FTAI Aviation (FTAI) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 28, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-37386
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0434238
Entity Address, Address Line One	1345 Avenue of the Americas, 45th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	212
Local Phone Number	798-6100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		85,114,636
Entity Registrant Name	Fortress Transportation & Infrastructure Investors LLC
Entity Central Index Key	0001590364
Document Fiscal Year Focus	2020
Amendment Flag	false
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Class A common shares, $0.01 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Class A common shares, $0.01 par value per share
Trading Symbol	FTAI
Security Exchange Name	NYSE
8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares
Trading Symbol	FTAI PR A
Security Exchange Name	NYSE
8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares
Trading Symbol	FTAI PR B
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets [Abstract]
Cash and cash equivalents	$ 45,120	$ 226,512
Restricted cash	78,268	16,005
Accounts receivable, net	57,945	49,470
Leasing equipment, net	1,680,646	1,707,059
Operating lease right-of-use assets, net	62,965	37,466
Finance leases, net	7,995	8,315
Property, plant, and equipment, net	789,300	732,109
Investments	194,352	180,550
Intangible assets, net	25,115	27,692
Goodwill	122,735	122,639
Other assets	112,147	129,105
Total assets	3,176,588	3,236,922
Liabilities
Accounts payable and accrued liabilities	82,928	144,855
Debt, net	1,445,735	1,420,928
Maintenance deposits	198,694	208,944
Security deposits	42,182	45,252
Operating lease liabilities	62,524	36,968
Other liabilities	32,701	41,118
Total liabilities	1,864,764	1,898,065
Commitments and contingencies
Equity
Common shares ($0.01 par value per share; 2,000,000,000 shares authorized; 85,114,636 and 84,917,448 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively)	851	849
Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 8,050,000 and 8,050,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively)	81	81
Additional paid in capital	1,110,028	1,110,122
Retained earnings	159,199	190,453
Accumulated other comprehensive income	9,130	372
Shareholders' equity	1,279,289	1,301,877
Non-controlling interest in equity of consolidated subsidiaries	32,535	36,980
Total equity	1,311,824	1,338,857
Total liabilities and equity	$ 3,176,588	$ 3,236,922

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	85,114,636	84,917,448
Common stock, shares outstanding (in shares)	85,114,636	84,917,448
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	8,050,000	8,050,000
Preferred stock, shares outstanding (in shares)		8,050,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues
Revenues	$ 112,840	$ 114,894
Expenses
Operating expenses	33,444	54,310
General and administrative	4,663	4,184
Acquisition and transaction expenses	3,194	1,474
Management fees and incentive allocation to affiliate	4,766	3,838
Depreciation and amortization	42,197	38,863
Interest expense	22,861	20,734
Total expenses	111,125	123,403
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	265	(384)
(Loss) gain on sale of assets, net	(1,819)	1,718
Loss on extinguishment of debt	(4,724)	0
Interest income	41	91
Other income (expense)	33	(2,603)
Total other expense	(6,204)	(1,178)
Loss from continuing operations before income taxes	(4,489)	(9,687)
(Benefit from) provision for income taxes	(98)	267
Net loss from continuing operations	(4,391)	(9,954)
Net income from discontinued operations, net of income taxes	1,331	158
Net loss	(3,060)	(9,796)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:
Continuing operations	(4,736)	(3,360)
Discontinued operations	0	(56)
Dividends on preferred shares	4,539	0
Net loss attributable to shareholders	$ (2,863)	$ (6,380)
Basic
Continuing operations (in dollars per share)	$ (0.05)	$ (0.07)
Discontinued operations (in dollars per share)	0.02	0
Diluted
Continuing operations (in dollars per share)	(0.05)	(0.07)
Discontinued operations (in dollars per share)	$ 0.02	$ 0
Weighted average shares outstanding:
Basic (in shares)	86,008,099	85,986,453
Diluted (in shares)	86,008,099	85,986,453
Equipment leasing revenues
Revenues
Revenues	$ 86,449	$ 72,452
Infrastructure revenues
Revenues
Revenues	$ 26,391	$ 42,442

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss		$ (3,060,000)	$ (9,796,000)
Other comprehensive income (loss):
Other comprehensive income (loss) related to equity method investees, net	[1]	8,758,000	(43,012,000)
Comprehensive income (loss)		5,698,000	(52,808,000)
Continuing operations		(4,736,000)	(3,360,000)
Discontinued operations		0	(56,000)
Comprehensive income (loss) attributable to shareholders		10,434,000	(49,392,000)
Tax expense, cash flow hedge		$ 2,326,000	$ 0
[1]	Net of deferred tax expense of $2,326 and $0 for the three months ended March 31, 2020 and 2019, respectively.

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Shares	Preferred Shares	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Non-Controlling Interest in Equity of Consolidated Subsidiaries
Beginning balance at Dec. 31, 2018	$ 1,053,782	$ 840	$ 0	$ 1,029,376	$ (32,817)		$ 56,383
Comprehensive income (loss):
Net income (loss)	(9,796)				(6,380)		(3,416)
Other comprehensive loss	(43,012)					$ (43,012)	0
Comprehensive income (loss)	(52,808)				(6,380)	(43,012)	(3,416)
Issuance of common shares	235	5		230
Dividends declared - common shares	(28,383)			(28,383)
Equity-based compensation	228			0			228
Ending balance at Mar. 31, 2019	973,054	845	0	1,001,223	(39,197)	(43,012)	53,195
Beginning balance at Dec. 31, 2019	1,338,857	849	81	1,110,122	190,453	372	36,980
Comprehensive income (loss):
Net income (loss)	(3,060)				1,676		(4,736)
Other comprehensive loss	8,758					8,758
Comprehensive income (loss)	5,698				1,676	8,758	(4,736)
Issuance of common shares	156	2		154
Conversion of participating securities	(2)			(2)
Dividends declared - common shares	(28,391)				(28,391)
Issuance costs of preferred shares	(246)			(246)
Dividends declared - preferred shares	(4,539)				(4,539)
Equity-based compensation	291						291
Ending balance at Mar. 31, 2020	$ 1,311,824	$ 851	$ 81	$ 1,110,028	$ 159,199	$ 9,130	$ 32,535

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss	$ (3,060)	$ (9,796)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Equity in (earnings) losses of unconsolidated entities	(265)	384
Gain on sale of subsidiaries	(1,331)	0
Loss (gain) on sale of assets, net	1,819	(1,725)
Security deposits and maintenance claims included in earnings	8,844	(2,953)
Loss on extinguishment of debt	4,724	0
Equity-based compensation	291	228
Depreciation and amortization	42,197	39,533
Change in current and deferred income taxes	3,822	338
Change in fair value of non-hedge derivative	181	3,220
Amortization of lease intangibles and incentives	6,867	8,334
Amortization of deferred financing costs	2,065	2,025
Bad debt expense	632	2,950
Other	363	221
Change in:
Accounts receivable	(10,780)	(1,127)
Other assets	7,063	(5,295)
Accounts payable and accrued liabilities	(46,316)	(14,348)
Management fees payable to affiliate	(20,865)	(1,158)
Other liabilities	(8,057)	(561)
Net cash (used in) provided by operating activities	(11,806)	20,270
Cash flows from investing activities:
Investment in unconsolidated entities	(2,452)	0
Principal collections on finance leases	320	1,289
Acquisition of leasing equipment	(57,570)	(108,919)
Acquisition of property, plant and equipment	(60,402)	(81,241)
Acquisition of lease intangibles	1,161	(589)
Purchase deposits for acquisitions	(3,100)	(4,625)
Proceeds from sale of leasing equipment	28,568	27,292
Proceeds from sale of property, plant and equipment	0	7
Return of capital distributions from unconsolidated entities	0	398
Return of deposit on sale of engine	2,350	0
Net cash used in investing activities	(91,125)	(166,388)
Cash flows from financing activities:
Proceeds from debt	303,980	352,680
Repayment of debt	(275,991)	(47,222)
Payment of deferred financing costs	(11,767)	(28,611)
Receipt of security deposits	130	1,935
Return of security deposits	(3,815)	(233)
Receipt of maintenance deposits	13,626	13,495
Release of maintenance deposits	(9,185)	(9,807)
Issuance costs of preferred shares	(246)	0
Cash dividends - common shares	(28,391)	(28,383)
Cash dividends - preferred shares	(4,539)	0
Net cash (used in) provided by financing activities	(16,198)	253,854
Net (decrease) increase in cash and cash equivalents and restricted cash	(119,129)	107,736
Cash and cash equivalents and restricted cash, beginning of period	242,517	120,837
Cash and cash equivalents and restricted cash, end of period	123,388	228,573
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of leasing equipment	18,872	(2,128)
Acquisition of property, plant and equipment	(4,982)	(11,210)
Settled and assumed security deposits	1,050	(1,604)
Billed, assumed and settled maintenance deposits	(13,860)	5,405
Change in fair value of cash flow hedge	0	(43,012)
Non-cash change in equity method investment	8,758	0
Issuance of common shares	$ 154	$ 235

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	1. ORGANIZATION Fortress Transportation and Infrastructure Investors LLC (“we”, “us”, “our” or the “Company”) is a Delaware limited liability company which, through its subsidiary, Fortress Worldwide Transportation and Infrastructure General Partnership (the “Partnership”), owns and leases aviation equipment and also owns and operates (i) a multi-modal crude oil and refined products terminal in Beaumont, Texas (“Jefferson Terminal”), (ii) a deep-water port located along the Delaware River with an underground storage cavern and multiple industrial development opportunities (“Repauno”) and (iii) an equity method investment in a multi-modal terminal located along the Ohio River with multiple industrial development opportunities, including a power plant under construction (“Long Ridge”). Additionally, we own and lease offshore energy equipment and shipping containers. We have three reportable segments, (i) Aviation Leasing, (ii) Jefferson Terminal and (iii) Ports and Terminals, which operate in two primary businesses, Equipment Leasing and Infrastructure (see Note 17).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of us and our subsidiaries. Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities. Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Risks and Uncertainties — In the normal course of business, we encounter several significant types of economic risk including credit, market, and capital market risks. Credit risk is the risk of the inability or unwillingness of a lessee, customer, or derivative counterparty to make contractually required payments or to fulfill its other contractual obligations. Market risk reflects the risk of a downturn or volatility in the underlying industry segments in which we operate, which could adversely impact the pricing of the services offered by us or a lessee’s or customer’s ability to make payments, increase the risk of unscheduled lease terminations and depress lease rates and the value of our leasing equipment or operating assets. Capital market risk is the risk that we are unable to obtain capital at reasonable rates to fund the growth of our business or to refinance existing debt facilities. We, through our subsidiaries, also conduct operations outside of the United States; such international operations are subject to the same risks as those associated with our United States operations as well as additional risks, including unexpected changes in regulatory requirements, heightened risk of political and economic instability, potentially adverse tax consequences and the burden of complying with foreign laws. We do not have significant exposure to foreign currency risk as all of our leasing arrangements and the majority of terminal services revenue are denominated in U.S. dollars. Variable Interest Entities — The assessment of whether an entity is a VIE and the determination of whether to consolidate a VIE requires judgment. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, and only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Delaware River Partners LLC During 2016, through Delaware River Partners LLC (“DRP”), a consolidated subsidiary, we purchased the assets of Repauno, which consisted primarily of land, a storage cavern, and riparian rights for the acquired land, site improvements and rights. Upon acquisition there were no operational processes that could be applied to these assets that would result in outputs without significant green field development. We currently hold an approximately 98% economic interest, and a 100% voting interest in DRP. DRP is solely reliant on us to finance its activities and therefore is a VIE. We concluded that we were the primary beneficiary; and accordingly, DRP has been presented on a consolidated basis in the accompanying financial statements. Cash and Cash Equivalents — We consider all highly liquid short-term investments with a maturity of 90 days or less when purchased to be cash equivalents. Restricted Cash — Restricted cash consists of prepaid interest and principal pursuant to the requirements of certain of our debt agreements (see Note 9) and other qualifying construction projects at Jefferson Terminal. Inventory — Commodities inventory is carried at the lower of cost or net realizable value on our balance sheet. Commodities are removed from inventory based on the average cost at the time of sale. We had commodities inventory of $0.1 million and $5.6 million as of March 31, 2020 and December 31, 2019, respectively, which is included in Other assets in the Consolidated Balance Sheets. Deferred Financing Costs — Costs incurred in connection with obtaining long term financing are capitalized and amortized to interest expense over the term of the underlying loans. Unamortized deferred financing costs of $26.4 million and $18.1 million as of March 31, 2020 and December 31, 2019, respectively, are recorded as a component of debt in the Consolidated Balance Sheets. We also have unamortized deferred revolver fees related to our revolving debt of $2.1 million and $1.7 million as of March 31, 2020 and December 31, 2019, respectively, which are included in Other assets in the Consolidated Balance Sheets. Amortization expense was $2.1 million an d $2.0 million for the three months ended March 31, 2020 and 2019, respectively, and is included in interest expense in the Consolidated Statements of Operations. Revenue Recognition Equipment Leasing Revenues Operating Leases —We lease equipment pursuant to net operating leases. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the lease, assuming no renewals. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Generally, under our aircraft lease and engine agreements, the lessee is required to make periodic maintenance payments calculated based on the lessee’s utilization of the leased asset or at the end of the lease. Typically, under our aircraft lease agreements, the lessee is responsible for maintenance, repairs and other operating expenses throughout the term of the lease. These periodic maintenance payments accumulate over the term of the lease to fund major maintenance events, and we are contractually obligated to return maintenance payments to the lessee up to the amount paid by the lessee. In the event the total cost of maintenance events over the term of a lease is less than the cumulative maintenance payments, we are not required to return any unused or excess maintenance payments to the lessee. Maintenance payments received for which we expect to repay to the lessee are presented as Maintenance Deposits in our Consolidated Balance Sheets. All excess maintenance payments received that we do not expect to repay to the lessee are recorded as Maintenance revenues. Finance Leases —From time to time we enter into finance lease arrangements that include a lessee obligation to purchase the leased equipment at the end of the lease term, a bargain purchase option, or provides for minimum lease payments with a present value that equals or exceeds substantially all of the fair value of the leased equipment at the date of lease inception. Net investment in finance lease represents the minimum lease payments due from lessee, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest method over the lease term and is recorded as finance lease income. The principal component of the lease payment is reflected as a reduction to the net investment in finance leases. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Infrastructure Revenues Terminal Services Revenues —Terminal services are provided to customers for the receipt and redelivery of various commodities. These revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Lease Income —Lease income consists of rental income from tenants for storage space. Lease income is recognized on a straight-line basis over the term s of the relevant lease agreement. Crude Marketing Revenues —Crude marketing revenues consists of marketing revenue related to Canadian crude oil. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Other Revenue —Other revenue primarily consists of revenue related to the handling, storage and sale of raw materials. Other revenue consists of two performance obligations: handling and storage of raw materials. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Payment terms for Infrastructure Revenues are generally short term in nature. Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other liabilities in our Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred . Concentration of Credit Risk — We are subject to concentrations of credit risk with respect to amounts due from customers on our finance leases and operating leases. We attempt to limit our credit risk by performing ongoing credit evaluations. During the three months ended March 31, 2020, one customer in the Jefferson Terminal segment and one customer in the Aviation Leasing segment accounted for approximately 16% and 11% of total revenue, respectively. During the three months ended March 31, 2019, one customer in the Jefferson Terminal segment accounted for approximately 22% of total revenue. As of March 31, 2020, there were no customers that represented greater than 10% of total accounts receivable, net. As of December 31, 2019, accounts receivable from one customer in the Jefferson Terminal segment represented 16% of total accounts receivable, net. We maintain cash and restricted cash balances, which generally exceed federally insured limits, and subject us to credit risk, in high credit quality financial institutions. We monitor the financial condition of these institutions and have not experienced any losses associated with these accounts. Provision for Doubtful Accounts — We determine the provision for doubtful accounts based on our assessment of the collectability of our receivables on a customer-by-customer basis. The provision for doubtful accounts was $1.7 million and $1.3 million as of March 31, 2020 and December 31, 2019, respectively. Bad debt expense was $0.6 million and $2.9 million for the three months ended March 31, 2020 and 2019, respectively, and is included in operating expenses in the Consolidated Statements of Operations. Comprehensive Income (Loss) — Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Our comprehensive income (loss) represents net income (loss), as presented in the Consolidated Statements of Operations, adjusted for fair value changes related to other comprehensive income related to our equity method investees. Derivative Financial Instruments Electricity Derivatives— Through our equity method investment in Long Ridge, we enter into derivative contracts as part of a risk management program to mitigate price risk associated with certain electricity price exposures. We primarily use swap derivative contracts, which are agreements to buy or sell a quantity of electricity at a predetermined future date and at a predetermined price. Cash Flow Hedges Certain of these derivative instruments are designated and qualify as cash flow hedges. Our share of the derivative's gain or loss is reported as Other comprehensive income related to equity method investees in our Consolidated Statements of Comprehensive Income (Loss) and recorded in Accumulated other comprehensive income in our Consolidated Balance Sheets. Derivatives Not Designated As Hedging Instruments Certain of these derivative instruments are not designated as hedging instruments for accounting purposes. The change in fair value of these contracts is recognized in Equity in earnings (losses) in unconsolidated entities in the Consolidated Statements of Operations. The cash flow impact of derivative contracts that are not designated as hedging instruments is recognized in Investment in unconsolidated entities in our Consolidated Statements of Cash Flows. Commodity Derivatives— We also enter into short-term and long-term crude forward contracts. Gains and losses related to our crude sales and purchase derivatives are recorded on a gross basis and are included in Crude marketing revenues and Operating expenses, respectively, in our Consolidated Statements of Operations. See Note 11 for additional details. The cash flow impact of these derivatives is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows. All of our outstanding derivatives are not used for speculative purposes. We record all derivative assets and liabilities on a gross basis at fair value and are included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets. Other Assets— Other assets is primarily comprised of lease incentives of $48.2 million and $45.3 million, prepaid expenses of $3.6 million and $4.1 million, notes receivable of $3.8 million and $2.4 million and maintenance right assets of $15.0 million and $24.5 million as of March 31, 2020 and December 31, 2019, respectively. Dividends— Dividends are recorded if and when declared by the Board of Directors. For both the three months ended March 31, 2020 and 2019, the Board of Directors declared a cash dividend of $0.33 per common share. Additionally, in the quarter ended March 31, 2020, the Board of Directors declared a cash dividend on the Series A Preferred Shares and Series B Preferred Shares of $0.52 and $0.50 per share, respectively. Recent Accounting Pronouncements — In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). For assets held at amortized cost basis, ASU 2016-13 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however this ASU requires that credit losses be presented as an allowance rather than as a write-down. This ASU affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 addresses concerns over the cost and complexity of the two-step goodwill impairment test by removing the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which temporarily simplifies the accounting for contract modifications, including hedging relationships, due to the transition from LIBOR and other interbank offered rates to alternative reference interest rates. For example, entities can elect not to remeasure the contracts at the modification date or reassess a previous accounting determination if certain conditions are met. Additionally, entities can elect to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain conditions are met. The new standard was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. We are currently evaluating the impact of the transition from LIBOR to alternative reference interest rates, but do not expect a material impact on our consolidated financial statements. Unadopted Accounting Pronouncements — In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) . This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 and early adoption is permitted. We are currently assessing the impact this guidance will have on our consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	3. DISCONTINUED OPERATIONS In December 2019, we completed the sale of substantially all of our railroad business (“CMQR”), which was previously reported as our Railroad segment. Under ASC 205-20, this disposition met the criteria to be reported as discontinued operations. Accordingly, the results of operations of CMQR have been reported as discontinued operations for all periods presented. The following table presents the significant components of net income from discontinued operations: Three Months Ended March 31, 2020 2019 Revenues Total revenues $ — $ 9,733 Expenses Operating expense — 8,156 Depreciation and amortization — 670 Interest expense — 569 Total expenses — 9,395 Gain on sale of assets, net 1,331 7 Other expense — (1) Other income 1,331 6 Income before income taxes 1,331 344 Provision for income taxes — 186 Net income 1,331 158 Less: Net loss attributable to non-controlling interests in consolidated subsidiaries — (56) Net income attributable to shareholders $ 1,331 $ 214 The following table presents the significant non-cash items and capital expenditures from discontinued operations: Three Months Ended March 31, 2020 2019 Operating activities: Depreciation and amortization $ — $ 670 Bad debt expense — 28 Share-based compensation expense — 46 Investing activities: Purchases of property, plant and equipment $ — $ 377

LEASING EQUIPMENT, NET

LEASING EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASING EQUIPMENT, NET	4. LEASING EQUIPMENT, NET Leasing equipment, net is summarized as follows: March 31, 2020 December 31, 2019 Leasing equipment $ 2,024,191 $ 2,019,773 Less: accumulated depreciation (343,545) (312,714) Leasing equipment, net $ 1,680,646 $ 1,707,059 The following table presents information related to our acquisitions and dispositions of aviation leasing equipment during the three months ended March 31, 2020: Acquisitions: Aircraft 2 Engines 4 Dispositions: Aircraft — Engines 1 Depreciation expense for leasing equipment is summarized as follows: Three Months Ended March 31, 2020 2019 Depreciation expense for leasing equipment $ 34,724 $ 31,896

FINANCE LEASES, NET

FINANCE LEASES, NET	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
FINANCE LEASES, NET	5. FINANCE LEASES, NET Finance leases, net are summarized as follows: March 31, 2020 December 31, 2019 Finance leases $ 11,638 $ 12,388 Unearned revenue (3,643) (4,073) Finance leases, net $ 7,995 $ 8,315

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	6. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is summarized as follows: March 31, 2020 December 31, 2019 Land, site improvements and rights $ 51,841 $ 51,901 Construction in progress 256,375 211,110 Buildings and improvements 4,033 3,783 Terminal machinery and equipment 538,366 519,603 Track and track related assets 2,348 2,208 Railroad equipment 5,402 4,823 Computer hardware and software 4,524 4,325 Furniture and fixtures 2,372 2,322 Other 609 1,969 865,870 802,044 Less: accumulated depreciation (76,570) (69,935) Property, plant and equipment, net $ 789,300 $ 732,109 During the three months ended March 31, 2020, we added property, plant and equipment of $63.8 million, which primarily consists of terminal machinery and equipment placed in service or under development at Jefferson Terminal and Repauno. Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended March 31, 2020 2019 Depreciation expense for property, plant and equipment: Continuing operations $ 6,585 $ 6,078 Discontinued operations — 659 Total $ 6,585 $ 6,737

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	7. INVESTMENTS The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage March 31, 2020 December 31, 2019 Advanced Engine Repair JV Equity method 25% $ 24,061 $ 24,652 Intermodal Finance I, Ltd. Equity method 51% 405 501 Long Ridge Terminal LLC Equity method 50% 169,886 155,397 Investments $ 194,352 $ 180,550 We did not recognize any other-than-temporary impairments for the three months ended March 31, 2020 or 2019. Equity Method Investments The following table presents our proportionate share of equity in income (losses): Three Months Ended March 31, 2020 2019 Advanced Engine Repair JV $ (591) $ (201) JGP Energy Partners LLC — (220) Intermodal Finance I, Ltd. (50) 37 Long Ridge Terminal LLC 906 — Total $ 265 $ (384) Long Ridge Terminal LLC In December 2019, Ohio River Shareholder LLC (“ORP”) contributed its equity interests in Long Ridge into Long Ridge Terminal LLC and sold a 49.9% interest (the “Long Ridge Transaction”) for $150 million in cash, plus an earn out. We no longer have a controlling interest in Long Ridge but still maintain significant influence through our retained interest and, therefore, now account for this investment in accordance with the equity method. Following the sale we deconsolidated ORP, which held the assets of Long Ridge. The following table presents a summarized statement of operations for the three months ended March 31, 2020: Total revenue $ 4,738 Total expenses 6,375 Other income 3,445 Net income $ 1,808 Advanced Engine Repair JV In December 2016, we invested $15 million for 25% interest in an advanced engine repair joint venture. We focus on developing new costs savings programs for engine repairs. We exercise significant influence over this investment and account for this investment as an equity method investment. In August 2019, we expanded the scope of our joint venture and invested an additional $13.5 million and maintained a 25% interest. The following table presents a summarized statement of operations: Three Months Ended March 31, 2020 2019 Total revenue $ — $ — Total expenses 2,364 804 Net loss $ (2,364) $ (804) JGP Energy Partners LLC In 2016, we initiated activities in a 50% non-controlling interest in JGP, a joint venture. JGP was governed by a designated operating committee selected by the members in proportion to their equity interests. JGP was solely reliant on its members to finance its activities and therefore was a VIE. Initially, we concluded that we were not the primary beneficiary of JGP as the members shared equally in the risks and rewards and decision making authority of the entity and, therefore, we did not consolidate JGP and instead accounted for this investment in accordance with the equity method. In December 2019, we purchased the remaining 50% interest in JGP from the JV partner for a purchase price of approximately $30 million, consolidated JGP and no longer account for this as an equity method investment. Intermodal Finance I, Ltd. In 2012, we acquired a 51% non-controlling interest in Intermodal Finance I, Ltd. (“Intermodal”), a joint venture. Intermodal is governed by a board of directors, and its shareholders have voting rights through their equity interests. As such, Intermodal is not within the scope of ASC 810-20 and should be evaluated for consolidation under the voting interest model. Due to the existence of substantive participating rights of the 49% equity investor, including the joint approval of material operating and capital decisions, such as material contracts and capital expenditures consistent with ASC 810-10-25-11, we do not have unilateral rights over this investment; therefore, we do not consolidate Intermodal but account for this investment in accordance with the equity method. We do not have a variable interest in this investment as none of the criteria of ASC 810-10-15-14 were met.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES, NET	3 Months Ended
	Mar. 31, 2020
Intangible Assets and Liabilities Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES, NET	8. INTANGIBLE ASSETS AND LIABILITIES, NET Intangible assets and liabilities, net are summarized as follows: March 31, 2020 Aviation Leasing Jefferson Terminal Total Intangible assets Acquired favorable lease intangibles $ 34,094 $ — $ 34,094 Less: Accumulated amortization (24,672) — (24,672) Acquired favorable lease intangibles, net 9,422 — 9,422 Customer relationships — 35,513 35,513 Less: Accumulated amortization — (19,820) (19,820) Acquired customer relationships, net — 15,693 15,693 Total intangible assets, net $ 9,422 $ 15,693 $ 25,115 Intangible liabilities Acquired unfavorable lease intangibles $ 5,061 $ — $ 5,061 Less: Accumulated amortization (2,301) — (2,301) Acquired unfavorable lease intangibles, net $ 2,760 $ — $ 2,760 December 31, 2019 Aviation Leasing Jefferson Terminal Total Intangible assets Acquired favorable lease intangibles $ 49,762 $ — $ 49,762 Less: Accumulated amortization (38,652) — (38,652) Acquired favorable lease intangibles, net 11,110 — 11,110 Customer relationships — 35,513 35,513 Less: Accumulated amortization — (18,931) (18,931) Acquired customer relationships, net — 16,582 16,582 Total intangible assets, net $ 11,110 $ 16,582 $ 27,692 Intangible liabilities Acquired unfavorable lease intangibles $ 5,170 $ — $ 5,170 Less: Accumulated amortization (3,014) — (3,014) Acquired unfavorable lease intangibles, net $ 2,156 $ — $ 2,156 Intangible liabilities relate to unfavorable lease intangibles and are included as a component of other liabilities in the Consolidated Balance Sheets. Amortization of intangible assets and liabilities is as follows: Classification in Consolidated Statements of Operations Three Months Ended March 31, 2020 2019 Lease intangibles Equipment leasing revenues $ 1,132 $ 2,462 Customer relationships: Depreciation and amortization Continuing operations 888 889 Discontinued operations — 11 Total $ 2,020 $ 3,362 As of March 31, 2020, estimated net annual amortization of intangibles is as follows: Remainder of 2020 $ 5,265 2021 6,147 2022 4,820 2023 3,746 2024 2,377 Thereafter — Total $ 22,355

DEBT, NET

DEBT, NET	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
DEBT, NET	9. DEBT, NET Our debt, net is summarized as follows: March 31, 2020 December 31, 2019 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable FTAI Pride Credit Agreement $ — N/A N/A $ 36,009 Revolving Credit Facility (1) 40,000 (i) Base Rate + 2.00%; or (ii) Adjusted Eurodollar Rate + 3.00% 1/31/2022 — Jefferson Revolver — N/A N/A 50,000 DRP Revolver (2) 25,000 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 11/5/2021 25,000 Total loans payable 65,000 111,009 Bonds payable Series 2012 Bonds (3) — N/A N/A 41,059 Series 2016 Bonds — N/A N/A 144,200 Series 2020 Bonds 263,980 See below See below — Senior Notes due 2022 (4) 698,008 6.75% 3/15/2022 697,814 Senior Notes due 2025 (5) 445,137 6.50% 10/1/2025 444,957 Total bonds payable 1,407,125 1,328,030 Debt 1,472,125 1,439,039 Less: Debt issuance costs (26,390) (18,111) Total debt, net $ 1,445,735 $ 1,420,928 Total debt due within one year $ — $ 182,019 ________________________________________________________ (1) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (2) Requires a quarterly commitment fee at a rate of 0.875% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (3) Includes unamortized premium of $1,509 as of December 31, 2019. (4) Includes unamortized discount of $4,893 and $5,429 at March 31, 2020 and December 31, 2019, respectively, and an unamortized premium of $2,901 and $3,243 at March 31, 2020 and December 31, 2019, respectively. (5) Includes unamortized discount of $4,863 and $5,043 at March 31, 2020 and December 31, 2019, respectively. Series 2020 Bonds — On February 11, 2020, our subsidiary (“Jefferson”) issued Series 2020 Bonds in an aggregate principal amount of approximately $264.0 million (“Jefferson Refinancing”). The Series 2020 Bonds are designated as $184.9 million of Series 2020A Dock and Wharf Facility Revenue Bonds (the “Tax Exempt Series 2020A Bonds”), and $79.1 million of Series 2020B Taxable Facility Revenue Bonds (the “Taxable Series 2020B Bonds”). The Tax Exempt Series 2020A Bonds maturing on January 1, 2035 ($53.5 million aggregate principal amount) bear interest at a fixed rate of 3.625%. The Tax Exempt Series 2020A Bonds maturing on January 1, 2050 ($131.4 million aggregate principal amount) bear interest at a fixed rate of 4.00%. The Taxable Series 2020B Bonds will mature on January 1, 2025 and bear interest at a fixed rate of 6.00%. Jefferson used a portion of the net proceeds from this offering to refund, redeem and defease the Series 2012 Bonds, Series 2016 Bonds and Jefferson Revolver, and intends to use a portion of the net proceeds to pay for or reimburse the cost of development, construction and acquisition of certain facilities, to fund certain reserve and funded interest accounts related to the Series 2020 Bonds, and to pay for or reimburse certain costs of issuance of the Series 2020 Bonds. Jefferson recognized a loss on extinguishment of debt of $4.7 million as a result of this transaction. FTAI Pride Credit Agreement — During March 2020, we repaid the FTAI Pride Credit Agreement in full. We were in compliance with all debt covenants as of March 31, 2020.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	10. FAIR VALUE MEASUREMENTS Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts. • Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following tables set forth our financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of March 31, 2020 March 31, 2020 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 45,120 $ 45,120 $ — $ — Market Restricted cash 78,268 78,268 — — Market Total assets $ 123,388 $ 123,388 $ — $ — Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2019 December 31, 2019 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 226,512 $ 226,512 $ — $ — Market Restricted cash 16,005 16,005 — — Market Derivative assets 181 — — 181 Income Total $ 242,698 $ 242,517 $ — $ 181 Our cash and cash equivalents and restricted cash consist largely of demand deposit accounts with maturities of 90 days or less when purchased that are considered to be highly liquid. These instruments are valued using inputs observable in active markets for identical instruments and are therefore classified as Level 1 within the fair value hierarchy. The fair value of our commodity derivative assets and liabilities classified as Level 3 measurements are estimated by applying the income approach, which is based on discounted projected future cash flows. The valuation of our electricity derivatives within our equity method investment in Long Ridge is based on management’s best estimate of certain key assumptions, which include extrapolated power forward curves for periods with unobservable market pricing, credit valuation adjustments utilizing estimated cash flows, estimated price volatility and probability of default, and the discount rate. The valuation of our commodity derivatives is based on management’s best estimate of certain key assumptions, which include an estimated differential factor for varying quality of commodity and the discount rate. Except as discussed below, our financial instruments other than cash and cash equivalents and restricted cash consist principally of accounts receivable, accounts payable and accrued liabilities, loans payable, bonds payable, security deposits, maintenance deposits and management fees payable, whose fair values approximate their carrying values based on an evaluation of pricing data, vendor quotes, and historical trading activity or due to their short maturity profiles. The fair value of our bonds and notes payable reported as debt, net in the Consolidated Balance Sheets are presented in the table below: March 31, 2020 December 31, 2019 Series 2012 Bonds (1) $ — $ 41,450 Series 2016 Bonds (1) — 145,143 Series A 2020 Bonds (2) 140,653 — Series B 2020 Bonds (2) 79,814 — Senior Notes due 2022 654,626 731,451 Senior Notes due 2025 330,183 475,884 ________________________________________________________ (1) These bonds were defeased as part of the Jefferson Refinancing. See Note 9 for additional details. (2) Fair value is based upon market prices for similar municipal securities. Due to the COVID-19 pandemic, the fair values of our notes and bonds fluctuated significantly during the first quarter and may continue to fluctuate based on market conditions and other factors. The fair value of all other items reported as debt, net in the Consolidated Balance Sheet approximate their carrying values due to their bearing market rates of interest and are classified as Level 2 within the fair value hierarchy.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	11. DERIVATIVE FINANCIAL INSTRUMENTS Commodity Derivatives Depending on market conditions, we source crude oil from producers in Canada, arranging logistics to Jefferson Terminal and marketing crude oil to third parties. We exited this strategy in the fourth quarter of 2019. These crude oil forward purchase and sales contracts are not designated in hedging relationships. The following table presents information related to our outstanding derivative contracts: Notional Amount Fair Value of Assets (1) Fair Value of Liabilities (1) Term March 31, 2020 Crude oil forwards (BBL) — — — N/A December 31, 2019 Crude oil forwards (BBL) 150 181 — 1 to 2 months ________________________________________________________ (1) Included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets. The following table presents a summary of the changes in fair value for all Level 3 derivatives: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Crude Oil Forwards Electricity Swaps (1) Crude Oil Forwards Beginning Balance $ 181 $ — $ 6,545 Net unrealized losses recognized in earnings (181) (2,370) (850) Losses recognized in other comprehensive income — (43,012) — Purchases — — 4 Sales — — (967) Settlements — — 963 Ending Balance $ — $ (45,382) $ 5,695 ________________________________________________________ (1) These derivatives were deconsolidated in December 2019 due to the Long Ridge Transaction. See Note 7 for additional details.

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUES	12. REVENUES We disaggregate our revenue from contracts with customers by products and services provided for each of our segments, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue. Revenues attributed to our Equipment Leasing business unit are within the scope of ASC 842, while revenues attributed to our Infrastructure business unit are within the scope of ASC 606, unless otherwise noted. Under the provisions of ASC 842, we have elected to exclude sales and other similar taxes from lease payments in arrangements where we are a lessor. Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 46,941 $ — $ — $ 2,872 $ 49,813 Maintenance revenue 31,995 — — — 31,995 Finance lease income 429 — — — 429 Other revenue 3,627 — — 585 4,212 Total equipment leasing revenues 82,992 — — 3,457 86,449 Infrastructure revenues Lease income — 120 — — 120 Terminal services revenues — 16,411 — — 16,411 Crude marketing revenues — 8,210 — — 8,210 Other revenue — — 314 1,336 1,650 Total infrastructure revenues — 24,741 314 1,336 26,391 Total revenues $ 82,992 $ 24,741 $ 314 $ 4,793 $ 112,840 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 47,303 $ — $ — $ 1,933 $ 49,236 Maintenance revenue 21,777 — — — 21,777 Finance lease income 826 — — — 826 Other revenue 505 — — 108 613 Total equipment leasing revenues 70,411 — — 2,041 72,452 Infrastructure revenues Lease income — 308 355 — 663 Terminal services revenues — 4,867 1,818 — 6,685 Crude marketing revenues — 30,779 — — 30,779 Other revenue — — 3,541 774 4,315 Total infrastructure revenues — 35,954 5,714 774 42,442 Total revenues $ 70,411 $ 35,954 $ 5,714 $ 2,815 $ 114,894 Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2020: Operating Leases Finance Leases Remainder of 2020 $ 135,835 $ 1,182 2021 127,735 1,291 2022 82,288 897 2023 50,825 273 2024 35,392 — Thereafter 17,875 — Total $ 449,950 $ 3,643

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASES	13. LEASES We have commitments as lessees under lease arrangements primarily for real estate, equipment and vehicles. Our leases have remaining lease terms ranging from approximately 1 to 42 years. The following table presents lease related costs: Three Months Ended March 31, 2020 2019 Operating lease expense $ 1,135 $ 1,604 Short-term lease expense 290 1,060 Variable lease expense 840 292 Lease expense from continuing operations 2,265 2,956 Finance lease expense — 79 Operating lease expense — 925 Lease expense from discontinued operations — 1,004 Total lease expense $ 2,265 $ 3,960 The following table presents information related to our operating leases as of and for the three months ended March 31, 2020: Right-of-use assets, net $ 62,965 Lease liabilities 62,524 Weighted average remaining lease term 40.6 years Weighted average incremental borrowing rate 6.2 % Cash paid for amounts included in the measurement of operating lease liabilities Continuing operations $ 1,139 Discontinued operations $ — The following table presents future minimum lease payments under non-cancellable operating leases as of March 31, 2020: Remainder of 2020 $ 3,524 2021 4,734 2022 4,606 2023 4,549 2024 4,318 Thereafter 149,992 Total undiscounted lease payments 171,723 Less: Imputed interest 109,199 Total lease liabilities $ 62,524

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	14. EQUITY-BASED COMPENSATION In 2015, we established a Nonqualified Stock Option and Incentive Award Plan (“Incentive Plan”) which provides for the ability to award equity compensation awards in the form of stock options, stock appreciation rights, restricted stock, and performance awards to eligible employees, consultants, directors, and other individuals who provide services to us, each as determined by the Compensation Committee of the Board of Directors. As of March 31, 2020, the Incentive Plan provides for the issuance of up to 29.9 million shares. We account for equity-based compensation expense in accordance with ASC 718 Compensation-Stock Compensation and is reported within operating expenses and general and administrative in the Consolidated Statements of Operations. The Consolidated Statements of Operations includes the following expense related to our stock-based compensation arrangements: Three Months Ended March 31, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term (in years) 2020 2019 Restricted Shares 215 90 873 0.7 Common Units 76 92 576 1.2 Total - continuing operations $ 291 $ 182 $ 1,449 Total - discontinued operations $ — $ 46 During the three months ended March 31, 2020, FIG LLC (the “Manager”), an affiliate of Fortress Investment Group LLC, transferred 252,472 of its options to certain of the Manager’s employees.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	15. INCOME TAXES The current and deferred components of the income tax (benefit) provision included in the Consolidated Statements of Operations are as follows: Three Months Ended March 31, 2020 2019 Current: Federal $ 37 $ 19 State and local 168 65 Foreign 70 52 Total current provision 275 136 Deferred: Federal (281) 103 State and local — 29 Foreign (92) (1) Total deferred provision (373) 131 (Benefit from) provision for income taxes: Continuing operations (98) 267 Discontinued operations — 186 Total $ (98) $ 453 We are taxed as a flow-through entity for U.S. income tax purposes and our taxable income or loss generated is the responsibility of our owners. Taxable income or loss generated by our corporate subsidiaries is subject to U.S. federal, state and foreign corporate income tax in locations where they conduct business. Our effective tax rate differs from the U.S. federal tax rate of 21% primarily due to a significant portion of our income not being subject to U.S. corporate tax rates, or being deemed to be foreign sourced and thus either not taxable or taxable at effectively lower tax rates.

MANAGEMENT AGREEMENT AND AFFILI

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	16. MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS The Manager is paid annual fees in exchange for advising us on various aspects of our business, formulating our investment strategies, arranging for the acquisition and disposition of assets, arranging for financing, monitoring performance, and managing our day-to-day operations, inclusive of all costs incidental thereto. In addition, the Manager may be reimbursed for various expenses incurred by the Manager on our behalf, including the costs of legal, accounting and other administrative activities. Additionally, we have entered into certain incentive allocation arrangements with Master GP, which owns approximately 0.05% of the Partnership and is the general partner of the Partnership. The Manager is entitled to a management fee, incentive allocations (comprised of income incentive allocation and capital gains incentive allocation, defined below) and reimbursement of certain expenses. The management fee is determined by taking the average value of total equity (excluding non-controlling interests) determined on a consolidated basis in accordance with GAAP at the end of the two most recently completed months multiplied by an annual rate of 1.50% and is payable monthly in arrears in cash. The income incentive allocation is calculated and distributable quarterly in arrears based on the pre-incentive allocation net income for the immediately preceding calendar quarter (the “Income Incentive Allocation”). For this purpose, pre-incentive allocation net income means, with respect to a calendar quarter, net income attributable to shareholders during such quarter calculated in accordance with GAAP excluding our pro rata share of (1) realized or unrealized gains and losses, and (2) certain non-cash or one-time items, and (3) any other adjustments as may be approved by our independent directors. Pre-incentive allocation net income does not include any Income Incentive Allocation or Capital Gains Incentive Allocation (described below) paid to the Master GP during the relevant quarter. A subsidiary of ours allocates and distributes to the Master GP an Income Incentive Allocation with respect to its pre-incentive allocation net income in each calendar quarter as follows: (1) no Income Incentive Allocation in any calendar quarter in which pre-incentive allocation net income, expressed as a rate of return on the average value of our net equity capital (excluding non-controlling interests) at the end of the two most recently completed calendar quarters, does not exceed 2% for such quarter (8% annualized); (2) 100% of pre-incentive allocation net income with respect to that portion of such pre-incentive allocation net income, if any, that is equal to or exceeds 2% but does not exceed 2.2223% for such quarter; and (3) 10% of the amount of pre-incentive allocation net income, if any, that exceeds 2.2223% for such quarter. These calculations will be prorated for any period of less than three months. Capital Gains Incentive Allocation is calculated and distributable in arrears as of the end of each calendar year and is equal to 10% of our pro rata share of cumulative realized gains from the date of the IPO through the end of the applicable calendar year, net of our pro rata share of cumulative realized or unrealized losses, the cumulative non-cash portion of equity-based compensation expenses and all realized gains upon which prior performance-based Capital Gains Incentive Allocation payments were made to the Master GP. The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation: Three Months Ended March 31, 2020 2019 Management fees $ 4,766 $ 3,676 Income incentive allocation — — Capital gains incentive allocation — 162 Total $ 4,766 $ 3,838 We pay all of our operating expenses, except those specifically required to be borne by the Manager under the Management Agreement. The expenses required to be paid by us include, but are not limited to, issuance and transaction costs incident to the acquisition, disposition and financing of our assets, legal and auditing fees and expenses, the compensation and expenses of our independent directors, the costs associated with the establishment and maintenance of any credit facilities and other indebtedness of ours (including commitment fees, legal fees, closing costs, etc.), expenses associated with other securities offerings of ours, costs and expenses incurred in contracting with third parties (including affiliates of the Manager), the costs of printing and mailing proxies and reports to our shareholders, costs incurred by the Manager or its affiliates for travel on our behalf, costs associated with any computer software or hardware that is used for us, costs to obtain liability insurance to indemnify our directors and officers and the compensation and expenses of our transfer agent. We pay or reimburse the Manager and its affiliates for performing certain legal, accounting, due diligence tasks and other services that outside professionals or outside consultants otherwise would perform, provided that such costs and reimbursements are no greater than those which would be paid to outside professionals or consultants. The Manager is responsible for all of its other costs incident to the performance of its duties under the Management Agreement, including compensation of the Manager’s employees, rent for facilities and other “overhead” expenses; we do not reimburse the Manager for these expenses. The following table summarizes our reimbursements to the Manager: Three Months Ended March 31, 2020 2019 (1) Classification in the Consolidated Statements of Operations: General and administrative $ 2,262 $ 2,543 Acquisition and transaction expenses 524 1,461 Total $ 2,786 $ 4,004 ________________________________________________________ (1) Due to the Aviation Restructuring (as defined in Note 17), $1,513 was restated from the Corporate and Other segment to the Aviation Leasing segment, of which $548 was reclassified from General and administrative to Operating expenses and $965 remained in Acquisition and transaction expenses. See Note 17 for additional details. If we terminate the Management Agreement, we will generally be required to pay the Manager a termination fee. The termination fee is equal to the amount of the management fee during the 12 months immediately preceding the date of the termination. In addition, an Incentive Allocation Fair Value Amount will be distributable to the Master GP if the Master GP is removed due to the termination of the Management Agreement in certain specified circumstances. The Incentive Allocation Fair Value Amount is an amount equal to the Income Incentive Allocation and the Capital Gains Incentive Allocation that would be paid to the Master GP if our assets were sold for cash at their then current fair market value (as determined by an appraisal, taking into account, among other things, the expected future value of the underlying investments). Upon the successful completion of an offering of our common shares or other equity securities (including securities issued as consideration in an acquisition), we grant the Manager options to purchase common shares in an amount equal to 10% of the number of common shares being sold in the offering (or if the issuance relates to equity securities other than our common shares, options to purchase a number of common shares equal to 10% of the gross capital raised in the equity issuance divided by the fair market value of a common share as of the date of issuance), with an exercise price equal to the offering price per share paid by the public or other ultimate purchaser or attributed to such securities in connection with an acquisition (or the fair market value of a common share as of the date of the equity issuance if it relates to equity securities other than our common shares). Any ultimate purchaser of common shares for which such options are granted may be an affiliate of Fortress. See Note 17 for information related to options granted to the Manager in connection with our September 2019 offering of preferred shares. The following table summarizes amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets: March 31, 2020 December 31, 2019 Accrued management fees $ 1,655 $ 1,410 Other payables (1) 881 21,992 ________________________________________________________ (1) Includes $21.2 million related to incentive fees, as of December 31, 2019, which we paid during the three months ended March 31, 2020. As of March 31, 2020 and December 31, 2019, there were no receivables from the Manager. Other Affiliate Transactions As of March 31, 2020 and December 31, 2019 an affiliate of our Manager owns an approximately 20% interest in Jefferson Terminal which has been accounted for as a component of non-controlling interest in consolidated subsidiaries in the consolidated financial statements. The carrying amount of this non-controlling interest at March 31, 2020 and December 31, 2019 was $29.0 million and $33.7 million, respectively. The following table presents the amount of this non-controlling interest share of net loss: Three Months Ended March 31, 2020 2019 Non-controlling interest share of net loss $ 4,661 $ 3,296 In connection with the Capital Call Agreement related to the Series 2016 Bonds, we, and an affiliate of our Manager, entered into a Fee and Support Agreement. The Fee and Support Agreement provides that the affiliate of the Manager is compensated for its guarantee of a portion of the obligations under the Standby Bond Purchase Agreement. This affiliate of the Manager received fees of $1.7 million, which are amortized as interest expense to the earlier of the redemption date or February 13, 2020. In connection with the amendment to the Jefferson Revolver, on December 20, 2018, our subsidiary and an affiliate of our Manager entered into an amended and restated Fee and Support Agreement, and our subsidiary issued a $0.3 million promissory note to the affiliate of our Manager, as consideration for the fee payable pursuant to the amended and restated Fee and Support Agreement. In February 2020, the Fee and Support Agreement was terminated in connection with the Jefferson Refinancing. On June 21, 2018, we, through a wholly owned subsidiary, completed a private offering with several third parties (the “Holders”) to tender their approximately 20% stake in Jefferson Terminal. We increased our majority interest in Jefferson Terminal in exchange for Class B Units of another wholly owned subsidiary, which provide the right to convert such Class B Units to a fixed amount of our shares, equivalent to approximately 1.9 million shares, at a Holder’s request. We have the option to satisfy any exchange request by delivering either common shares or cash. The Holders are entitled to receive distributions equivalent to the distributions paid to our shareholders. This transaction resulted in a purchase of non-controlling interest shares. See Note 18 for details related to conversions during the period.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	17. SEGMENT INFORMATION Our reportable segments represent strategic business units comprised of investments in different types of transportation and infrastructure assets. We have three reportable segments which operate in the Equipment Leasing and Infrastructure businesses across several market sectors. Our reportable segments are (i) Aviation Leasing, (ii) Jefferson Terminal and (iii) Ports and Terminals. The Aviation Leasing segment consists of aircraft and aircraft engines held for lease and are typically held long-term. The Jefferson Terminal segment consists of a multi-modal crude oil and refined products terminal and other related assets. The Ports and Terminals segment consists of Repauno, which is a 1,630-acre deep-water port located along the Delaware River with an underground storage cavern and multiple industrial development opportunities, and an equity method investment in Long Ridge, which is a 1,660-acre multi-modal port located along the Ohio River with rail, dock, and multiple industrial development opportunities, including a power plant under construction. In December 2019, we completed the sale of substantially all of our railroad business, which was formerly reported as our Railroad segment. Under ASC 205-20, this disposition met the criteria to be reported as discontinued operations and the assets, liabilities and results of operations have been presented as discontinued operations for all periods presented. Additionally, in accordance with ASC 280, we assessed our reportable segments. We determined that our retained investment of the railroad business no longer met the requirement as a reportable segment. Accordingly, we have presented this operating segment, along with Corporate results, within Corporate and Other effective in 2019. All prior periods have been restated for historical comparison across segments. Corporate and Other primarily consists of debt, unallocated company level general and administrative expenses, and management fees. Additionally, Corporate and Other includes (i) offshore energy related assets, which consist of vessels and equipment that support offshore oil and gas drilling and production which are typically subject to long-term operating leases, (ii) an investment in an unconsolidated entity engaged in the acquisition and leasing of shipping containers and (iii) railroad assets retained after the December 2019 sale, which consist of equipment that support a railcar cleaning business. Aviation Leasing Organizational Restructuring We recently completed an organizational restructuring of the Aviation Leasing segment. Previously, Aviation Leasing’s employees were employed by the Manager and compensation and related costs associated with these employees were reimbursed to the Manager, per the Management Agreement (see Note 16). These costs were reported within Corporate and Other. Effective in the first quarter of 2020, Aviation Leasing’s employees are employed by one of our subsidiaries. Compensation and related costs incurred by this subsidiary will be reported within the Aviation Leasing segment. Prior periods have been restated for historical comparison. The following table presents our adjustments for the three months ended March 31, 2019. As Previously Reported Adjustments As Reported Aviation Leasing Corporate and Other Aviation Leasing Corporate and Other Aviation Leasing Corporate and Other Operating expenses $ 6,078 $ 3,541 $ 548 $ — $ 6,626 $ 3,541 General and administrative — 4,732 — (548) — 4,184 Acquisition and transaction expenses 13 1,461 965 (965) 978 496 The accounting policies of the segments are the same as those described in the summary of significant accounting policies; however, financial information presented by segment includes the impact of intercompany eliminations. We evaluate investment performance for each reportable segment primarily based on net income attributable to shareholders and Adjusted EBITDA. Adjusted EBITDA is defined as net income (loss) attributable to shareholders from continuing operations, adjusted (a) to exclude the impact of provision for (benefit from) income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, and interest expense, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA. We believe that net income (loss) attributable to shareholders, as defined by GAAP, is the most appropriate earnings measurement with which to reconcile Adjusted EBITDA. Adjusted EBITDA should not be considered as an alternative to net income (loss) attributable to shareholders as determined in accordance with GAAP. The following tables set forth certain information for each reportable segment: I. For the Three Months Ended March 31, 2020 Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 82,992 $ — $ — $ 3,457 $ 86,449 Infrastructure revenues — 24,741 314 1,336 26,391 Total revenues 82,992 24,741 314 4,793 112,840 Expenses Operating expenses 4,071 21,943 2,000 5,430 33,444 General and administrative — — — 4,663 4,663 Acquisition and transaction expenses 2,724 — 782 (312) 3,194 Management fees and incentive allocation to affiliate — — — 4,766 4,766 Depreciation and amortization 32,631 7,226 376 1,964 42,197 Interest expense — 3,428 393 19,040 22,861 Total expenses 39,426 32,597 3,551 35,551 111,125 Other income (expense) Equity in (losses) earnings of unconsolidated entities (591) — 906 (50) 265 Loss on sale of assets, net (1,819) — — — (1,819) Loss on extinguishment of debt — (4,724) — — (4,724) Interest income 12 22 — 7 41 Other income — 33 — — 33 Total other (expense) income (2,398) (4,669) 906 (43) (6,204) Income (loss) from continuing operations before income taxes 41,168 (12,525) (2,331) (30,801) (4,489) Provision for (benefit from) income taxes 45 135 (281) 3 (98) Net income (loss) from continuing operations 41,123 (12,660) (2,050) (30,804) (4,391) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — (4,661) (75) — (4,736) Dividends on preferred shares — — — 4,539 4,539 Net income (loss) from continuing operations attributable to shareholders $ 41,123 $ (7,999) $ (1,975) $ (35,343) $ (4,194) The following table sets forth a reconciliation of Adjusted EBITDA to net income attributable to shareholders from continuing operations: Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 83,390 $ 4,569 $ (1,316) $ (14,648) $ 71,995 Add: Non-controlling share of Adjusted EBITDA 3,350 Add: Equity in earnings of unconsolidated entities 265 Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 413 Less: Interest expense (22,861) Less: Depreciation and amortization expense (49,064) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (181) Less: Losses on the modification or extinguishment of debt and capital lease obligations (4,724) Less: Acquisition and transaction expenses (3,194) Less: Equity-based compensation expense (291) Less: Benefit from income taxes 98 Net loss attributable to shareholders from continuing operations $ (4,194) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Africa $ 7,154 $ — $ — $ — $ 7,154 Asia 26,545 — — 3,457 30,002 Europe 39,572 — — — 39,572 North America 8,138 24,741 314 1,336 34,529 South America 1,583 — — — 1,583 Total $ 82,992 $ 24,741 $ 314 $ 4,793 $ 112,840 II. For the Three Months Ended March 31, 2019 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 70,411 $ — $ — $ 2,041 $ 72,452 Infrastructure revenues — 35,954 5,714 774 42,442 Total revenues 70,411 35,954 5,714 2,815 114,894 Expenses Operating expenses 6,626 39,241 4,902 3,541 54,310 General and administrative — — — 4,184 4,184 Acquisition and transaction expenses 978 — — 496 1,474 Management fees and incentive allocation to affiliate — — — 3,838 3,838 Depreciation and amortization 30,005 5,156 1,993 1,709 38,863 Interest expense — 3,924 296 16,514 20,734 Total expenses 37,609 48,321 7,191 30,282 123,403 Other income (expense) Equity in (losses) earnings of unconsolidated entities (201) (220) — 37 (384) Gain on sale of assets, net 1,718 — — — 1,718 Interest income 26 38 21 6 91 Other expense — (233) (2,370) — (2,603) Total other income (expense) 1,543 (415) (2,349) 43 (1,178) Income (loss) from continuing operations before income taxes 34,345 (12,782) (3,826) (27,424) (9,687) Provision for income taxes 180 86 — 1 267 Net income (loss) from continuing operations 34,165 (12,868) (3,826) (27,425) (9,954) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — (3,296) (64) — (3,360) Net income (loss) from continuing operations attributable to shareholders $ 34,165 $ (9,572) $ (3,762) $ (27,425) $ (6,594) The following table sets forth a reconciliation of Adjusted EBITDA to net income attributable to shareholders from continuing operations: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 73,662 $ (1,290) $ 926 $ (8,543) $ 64,755 Add: Non-controlling share of Adjusted EBITDA 2,153 Add: Equity in losses of unconsolidated entities (384) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 118 Less: Interest expense (20,734) Less: Depreciation and amortization expense (47,197) Less: Incentive allocations (162) Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (3,220) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,474) Less: Equity-based compensation expense (182) Less: Provision for income taxes (267) Net loss attributable to shareholders from continuing operations $ (6,594) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Africa $ 3,477 $ — $ — $ — $ 3,477 Asia 22,114 — — 2,041 24,155 Europe 31,885 — — — 31,885 North America 10,826 35,954 5,714 774 53,268 South America 2,109 — — — 2,109 Total $ 70,411 $ 35,954 $ 5,714 $ 2,815 $ 114,894 III. Balance Sheet and Location of Long-Lived Assets The following tables sets forth summarized balance sheet information and the geographic location of property, plant and equipment and leasing equipment, net as of March 31, 2020 and December 31, 2019: March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Total assets $ 1,665,800 $ 882,698 $ 414,004 $ 214,086 $ 3,176,588 Debt, net — 252,379 25,000 1,168,356 1,445,735 Total liabilities 274,933 347,281 69,944 1,172,606 1,864,764 Non-controlling interests in equity of consolidated subsidiaries — 31,225 786 524 32,535 Total equity 1,390,867 535,417 344,060 (958,520) 1,311,824 Total liabilities and equity $ 1,665,800 $ 882,698 $ 414,004 $ 214,086 $ 3,176,588 March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 42,382 $ — $ — $ — $ 42,382 Asia 469,728 — — 40,795 510,523 Europe 690,470 — — — 690,470 North America 273,292 576,450 236,847 121,970 1,208,559 South America 18,012 — — — 18,012 Total $ 1,493,884 $ 576,450 $ 236,847 $ 162,765 $ 2,469,946

EARNINGS PER SHARE AND EQUITY

EARNINGS PER SHARE AND EQUITY	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND EQUITY	18. EARNINGS PER SHARE AND EQUITY Basic earnings per common share (“EPS”) is calculated by dividing net income attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities. Diluted EPS is calculated by dividing net income attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities and potentially dilutive securities. Potentially dilutive securities are calculated using the treasury stock method. The calculation of basic and diluted EPS is presented below: Three Months Ended March 31, (in thousands, except share and per share data) 2020 2019 Net loss from continuing operations $ (4,391) $ (9,954) Net income from discontinued operations, net of income taxes 1,331 158 Net loss (3,060) (9,796) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries: Continuing operations (4,736) (3,360) Discontinued operations — (56) Dividends on preferred shares 4,539 — Net loss attributable to shareholders $ (2,863) $ (6,380) Weighted Average Common Shares Outstanding - Basic (1) 86,008,099 85,986,453 Weighted Average Common Shares Outstanding - Diluted (1) 86,008,099 85,986,453 Basic Continuing operations $ (0.05) $ (0.07) Discontinued operations $ 0.02 $ — Diluted Continuing operations $ (0.05) $ (0.07) Discontinued operations $ 0.02 $ — ________________________________________________________ (1) The three months ended March 31, 2020 and 2019 includes participating securities which can be converted into a fixed amount of our shares. For the three months ended March 31, 2020 and 2019, 156,550 and 138,659 shares, respectively, have been excluded from the calculation of Diluted EPS because the impact would be anti-dilutive. In January 2020, we issued 11,991 common shares to certain directors as compensation. During the three months ended March 31, 2020, certain holders of Class B Units (see Note 16) converted 250,066 Class B Units in exchange for 185,197 common shares.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	19. COMMITMENTS AND CONTINGENCIES In the normal course of business we, and our subsidiaries, may be involved in various claims, legal proceedings, or may enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. Within our offshore energy business, a lessee did not fulfill its obligation under its charter arrangement, therefore we are pursuing rights afforded to us under the charter and the range of potential losses against the obligation is $0.0 million to $3.3 million. Our maximum exposure under other arrangements is unknown as no additional claims have been made. We believe the risk of loss in connection with such arrangements is remote.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	20. SUBSEQUENT EVENTS On April 28, 2020, our Board of Directors declared a cash dividend on our common shares and eligible participating securities of $0.33 per share for the quarter ended March 31, 2020, payable on May 26, 2020 to the holders of record on May 15, 2020. Additionally, on April 28, 2020, our Board of Directors also declared a cash dividend on the Series A Preferred Shares and Series B Preferred Shares of $0.52 per share and $0.50 per share, respectively, payable on June 15, 2020 to the holders of record on June 1, 2020.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of us and our subsidiaries.
Principles of Consolidation	Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Risks and Uncertainties	Risks and Uncertainties — In the normal course of business, we encounter several significant types of economic risk including credit, market, and capital market risks. Credit risk is the risk of the inability or unwillingness of a lessee, customer, or derivative counterparty to make contractually required payments or to fulfill its other contractual obligations. Market risk reflects the risk of a downturn or volatility in the underlying industry segments in which we operate, which could adversely impact the pricing of the services offered by us or a lessee’s or customer’s ability to make payments, increase the risk of unscheduled lease terminations and depress lease rates and the value of our leasing equipment or operating assets. Capital market risk is the risk that we are unable to obtain capital at reasonable rates to fund the growth of our business or to refinance existing debt facilities. We, through our subsidiaries, also conduct operations outside of the United States; such international operations are subject to the same risks as those associated with our United States operations as well as additional risks, including unexpected changes in regulatory requirements, heightened risk of political and economic instability, potentially adverse tax consequences and the burden of complying with foreign laws. We do not have significant exposure to foreign currency risk as all of our leasing arrangements and the majority of terminal services revenue are denominated in U.S. dollars.
Variable Interest Entities	Variable Interest Entities — The assessment of whether an entity is a VIE and the determination of whether to consolidate a VIE requires judgment. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, and only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents — We consider all highly liquid short-term investments with a maturity of 90 days or less when purchased to be cash equivalents. Restricted Cash —
Inventory	Inventory —
Deferred Financing Costs	Deferred Financing Costs —
Operating Leases	Operating Leases —We lease equipment pursuant to net operating leases. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the lease, assuming no renewals. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Generally, under our aircraft lease and engine agreements, the lessee is required to make periodic maintenance payments calculated based on the lessee’s utilization of the leased asset or at the end of the lease. Typically, under our aircraft lease agreements, the lessee is responsible for maintenance, repairs and other operating expenses throughout the term of the lease. These periodic maintenance payments accumulate over the term of the lease to fund major maintenance events, and we are contractually obligated to return maintenance payments to the lessee up to the amount paid by the lessee. In the event the total cost of maintenance events over the term of a lease is less than the cumulative maintenance payments, we are not required to return any unused or excess maintenance payments to the lessee. Maintenance payments received for which we expect to repay to the lessee are presented as Maintenance Deposits in our Consolidated Balance Sheets. All excess maintenance payments received that we do not expect to repay to the lessee are recorded as Maintenance revenues. Finance Leases —From time to time we enter into finance lease arrangements that include a lessee obligation to purchase the leased equipment at the end of the lease term, a bargain purchase option, or provides for minimum lease payments with a present value that equals or exceeds substantially all of the fair value of the leased equipment at the date of lease inception. Net investment in finance lease represents the minimum lease payments due from lessee, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest method over the lease term and is recorded as finance lease income. The principal component of the lease payment is reflected as a reduction to the net investment in finance leases. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received.
Revenue Recognition	Infrastructure Revenues Terminal Services Revenues —Terminal services are provided to customers for the receipt and redelivery of various commodities. These revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Lease Income —Lease income consists of rental income from tenants for storage space. Lease income is recognized on a straight-line basis over the term s of the relevant lease agreement. Crude Marketing Revenues —Crude marketing revenues consists of marketing revenue related to Canadian crude oil. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Other Revenue —Other revenue primarily consists of revenue related to the handling, storage and sale of raw materials. Other revenue consists of two performance obligations: handling and storage of raw materials. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time.
Leasing Arrangements	Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other liabilities in our Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred .
Concentration of Credit Risk	Concentration of Credit Risk — We are subject to concentrations of credit risk with respect to amounts due from customers on our finance leases and operating leases. We attempt to limit our credit risk by performing ongoing credit evaluations. During the three months ended March 31, 2020, one customer in the Jefferson Terminal segment and one customer in the Aviation Leasing segment accounted for approximately 16% and 11% of total revenue, respectively. During the three months ended March 31, 2019, one customer in the Jefferson Terminal segment accounted for approximately 22% of total revenue. As of March 31, 2020, there were no customers that represented greater than 10% of total accounts receivable, net. As of December 31, 2019, accounts receivable from one customer in the Jefferson Terminal segment represented 16% of total accounts receivable, net. We maintain cash and restricted cash balances, which generally exceed federally insured limits, and subject us to credit risk, in high credit quality financial institutions. We monitor the financial condition of these institutions and have not experienced any losses associated with these accounts.
Provision for Doubtful Accounts	Provision for Doubtful Accounts —
Comprehensive Income (Loss)	Comprehensive Income (Loss) — Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Our comprehensive income (loss) represents net income (loss), as presented in the Consolidated Statements of Operations, adjusted for fair value changes related to other comprehensive income related to our equity method investees.
Derivative Financial Instruments	Derivative Financial Instruments Electricity Derivatives— Through our equity method investment in Long Ridge, we enter into derivative contracts as part of a risk management program to mitigate price risk associated with certain electricity price exposures. We primarily use swap derivative contracts, which are agreements to buy or sell a quantity of electricity at a predetermined future date and at a predetermined price. Cash Flow Hedges Certain of these derivative instruments are designated and qualify as cash flow hedges. Our share of the derivative's gain or loss is reported as Other comprehensive income related to equity method investees in our Consolidated Statements of Comprehensive Income (Loss) and recorded in Accumulated other comprehensive income in our Consolidated Balance Sheets. Derivatives Not Designated As Hedging Instruments Certain of these derivative instruments are not designated as hedging instruments for accounting purposes. The change in fair value of these contracts is recognized in Equity in earnings (losses) in unconsolidated entities in the Consolidated Statements of Operations. The cash flow impact of derivative contracts that are not designated as hedging instruments is recognized in Investment in unconsolidated entities in our Consolidated Statements of Cash Flows. Commodity Derivatives— We also enter into short-term and long-term crude forward contracts. Gains and losses related to our crude sales and purchase derivatives are recorded on a gross basis and are included in Crude marketing revenues and Operating expenses, respectively, in our Consolidated Statements of Operations. See Note 11 for additional details. The cash flow impact of these derivatives is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows. All of our outstanding derivatives are not used for speculative purposes. We record all derivative assets and liabilities on a gross basis at fair value and are included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets.
Recent Accounting Pronouncements and Unadopted Accounting Pronouncements	Recent Accounting Pronouncements — In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). For assets held at amortized cost basis, ASU 2016-13 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however this ASU requires that credit losses be presented as an allowance rather than as a write-down. This ASU affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 addresses concerns over the cost and complexity of the two-step goodwill impairment test by removing the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. We adopted this ASU in the first quarter of 2020 and adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which temporarily simplifies the accounting for contract modifications, including hedging relationships, due to the transition from LIBOR and other interbank offered rates to alternative reference interest rates. For example, entities can elect not to remeasure the contracts at the modification date or reassess a previous accounting determination if certain conditions are met. Additionally, entities can elect to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain conditions are met. The new standard was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. We are currently evaluating the impact of the transition from LIBOR to alternative reference interest rates, but do not expect a material impact on our consolidated financial statements. Unadopted Accounting Pronouncements — In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) . This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 and early adoption is permitted. We are currently assessing the impact this guidance will have on our consolidated financial statements.
Fair Value Measurement	Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the significant components of net income from discontinued operations: Three Months Ended March 31, 2020 2019 Revenues Total revenues $ — $ 9,733 Expenses Operating expense — 8,156 Depreciation and amortization — 670 Interest expense — 569 Total expenses — 9,395 Gain on sale of assets, net 1,331 7 Other expense — (1) Other income 1,331 6 Income before income taxes 1,331 344 Provision for income taxes — 186 Net income 1,331 158 Less: Net loss attributable to non-controlling interests in consolidated subsidiaries — (56) Net income attributable to shareholders $ 1,331 $ 214 The following table presents the significant non-cash items and capital expenditures from discontinued operations: Three Months Ended March 31, 2020 2019 Operating activities: Depreciation and amortization $ — $ 670 Bad debt expense — 28 Share-based compensation expense — 46 Investing activities: Purchases of property, plant and equipment $ — $ 377

LEASING EQUIPMENT, NET (Tables)

LEASING EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Lessor, Operating Leases	Leasing equipment, net is summarized as follows: March 31, 2020 December 31, 2019 Leasing equipment $ 2,024,191 $ 2,019,773 Less: accumulated depreciation (343,545) (312,714) Leasing equipment, net $ 1,680,646 $ 1,707,059
Lessor, Acquisition and Disposition of Leasing Equipment	The following table presents information related to our acquisitions and dispositions of aviation leasing equipment during the three months ended March 31, 2020: Acquisitions: Aircraft 2 Engines 4 Dispositions: Aircraft — Engines 1
Operating Lease, Lease Income	Depreciation expense for leasing equipment is summarized as follows: Three Months Ended March 31, 2020 2019 Depreciation expense for leasing equipment $ 34,724 $ 31,896

FINANCE LEASES, NET (Tables)

FINANCE LEASES, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Finance Leases	Finance leases, net are summarized as follows: March 31, 2020 December 31, 2019 Finance leases $ 11,638 $ 12,388 Unearned revenue (3,643) (4,073) Finance leases, net $ 7,995 $ 8,315

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net is summarized as follows: March 31, 2020 December 31, 2019 Land, site improvements and rights $ 51,841 $ 51,901 Construction in progress 256,375 211,110 Buildings and improvements 4,033 3,783 Terminal machinery and equipment 538,366 519,603 Track and track related assets 2,348 2,208 Railroad equipment 5,402 4,823 Computer hardware and software 4,524 4,325 Furniture and fixtures 2,372 2,322 Other 609 1,969 865,870 802,044 Less: accumulated depreciation (76,570) (69,935) Property, plant and equipment, net $ 789,300 $ 732,109 Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended March 31, 2020 2019 Depreciation expense for property, plant and equipment: Continuing operations $ 6,585 $ 6,078 Discontinued operations — 659 Total $ 6,585 $ 6,737

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage March 31, 2020 December 31, 2019 Advanced Engine Repair JV Equity method 25% $ 24,061 $ 24,652 Intermodal Finance I, Ltd. Equity method 51% 405 501 Long Ridge Terminal LLC Equity method 50% 169,886 155,397 Investments $ 194,352 $ 180,550 The following table presents our proportionate share of equity in income (losses): Three Months Ended March 31, 2020 2019 Advanced Engine Repair JV $ (591) $ (201) JGP Energy Partners LLC — (220) Intermodal Finance I, Ltd. (50) 37 Long Ridge Terminal LLC 906 — Total $ 265 $ (384) The following table presents a summarized statement of operations for the three months ended March 31, 2020: Total revenue $ 4,738 Total expenses 6,375 Other income 3,445 Net income $ 1,808 The following table presents a summarized statement of operations: Three Months Ended March 31, 2020 2019 Total revenue $ — $ — Total expenses 2,364 804 Net loss $ (2,364) $ (804)

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Intangible Assets and Liabilities Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets and Liabilities	Intangible assets and liabilities, net are summarized as follows: March 31, 2020 Aviation Leasing Jefferson Terminal Total Intangible assets Acquired favorable lease intangibles $ 34,094 $ — $ 34,094 Less: Accumulated amortization (24,672) — (24,672) Acquired favorable lease intangibles, net 9,422 — 9,422 Customer relationships — 35,513 35,513 Less: Accumulated amortization — (19,820) (19,820) Acquired customer relationships, net — 15,693 15,693 Total intangible assets, net $ 9,422 $ 15,693 $ 25,115 Intangible liabilities Acquired unfavorable lease intangibles $ 5,061 $ — $ 5,061 Less: Accumulated amortization (2,301) — (2,301) Acquired unfavorable lease intangibles, net $ 2,760 $ — $ 2,760 December 31, 2019 Aviation Leasing Jefferson Terminal Total Intangible assets Acquired favorable lease intangibles $ 49,762 $ — $ 49,762 Less: Accumulated amortization (38,652) — (38,652) Acquired favorable lease intangibles, net 11,110 — 11,110 Customer relationships — 35,513 35,513 Less: Accumulated amortization — (18,931) (18,931) Acquired customer relationships, net — 16,582 16,582 Total intangible assets, net $ 11,110 $ 16,582 $ 27,692 Intangible liabilities Acquired unfavorable lease intangibles $ 5,170 $ — $ 5,170 Less: Accumulated amortization (3,014) — (3,014) Acquired unfavorable lease intangibles, net $ 2,156 $ — $ 2,156
Schedule of Intangible Assets and Liabilities	Amortization of intangible assets and liabilities is as follows: Classification in Consolidated Statements of Operations Three Months Ended March 31, 2020 2019 Lease intangibles Equipment leasing revenues $ 1,132 $ 2,462 Customer relationships: Depreciation and amortization Continuing operations 888 889 Discontinued operations — 11 Total $ 2,020 $ 3,362
Schedule of Net Annual Amortization of Intangibles	As of March 31, 2020, estimated net annual amortization of intangibles is as follows: Remainder of 2020 $ 5,265 2021 6,147 2022 4,820 2023 3,746 2024 2,377 Thereafter — Total $ 22,355

DEBT, NET (Tables)

DEBT, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our debt, net is summarized as follows: March 31, 2020 December 31, 2019 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable FTAI Pride Credit Agreement $ — N/A N/A $ 36,009 Revolving Credit Facility (1) 40,000 (i) Base Rate + 2.00%; or (ii) Adjusted Eurodollar Rate + 3.00% 1/31/2022 — Jefferson Revolver — N/A N/A 50,000 DRP Revolver (2) 25,000 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 11/5/2021 25,000 Total loans payable 65,000 111,009 Bonds payable Series 2012 Bonds (3) — N/A N/A 41,059 Series 2016 Bonds — N/A N/A 144,200 Series 2020 Bonds 263,980 See below See below — Senior Notes due 2022 (4) 698,008 6.75% 3/15/2022 697,814 Senior Notes due 2025 (5) 445,137 6.50% 10/1/2025 444,957 Total bonds payable 1,407,125 1,328,030 Debt 1,472,125 1,439,039 Less: Debt issuance costs (26,390) (18,111) Total debt, net $ 1,445,735 $ 1,420,928 Total debt due within one year $ — $ 182,019 ________________________________________________________ (1) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (2) Requires a quarterly commitment fee at a rate of 0.875% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (3) Includes unamortized premium of $1,509 as of December 31, 2019. (4) Includes unamortized discount of $4,893 and $5,429 at March 31, 2020 and December 31, 2019, respectively, and an unamortized premium of $2,901 and $3,243 at March 31, 2020 and December 31, 2019, respectively. (5) Includes unamortized discount of $4,863 and $5,043 at March 31, 2020 and December 31, 2019, respectively.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables set forth our financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of March 31, 2020 March 31, 2020 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 45,120 $ 45,120 $ — $ — Market Restricted cash 78,268 78,268 — — Market Total assets $ 123,388 $ 123,388 $ — $ — Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2019 December 31, 2019 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 226,512 $ 226,512 $ — $ — Market Restricted cash 16,005 16,005 — — Market Derivative assets 181 — — 181 Income Total $ 242,698 $ 242,517 $ — $ 181
Fair Value, by Balance Sheet Grouping	The fair value of our bonds and notes payable reported as debt, net in the Consolidated Balance Sheets are presented in the table below: March 31, 2020 December 31, 2019 Series 2012 Bonds (1) $ — $ 41,450 Series 2016 Bonds (1) — 145,143 Series A 2020 Bonds (2) 140,653 — Series B 2020 Bonds (2) 79,814 — Senior Notes due 2022 654,626 731,451 Senior Notes due 2025 330,183 475,884 ________________________________________________________ (1) These bonds were defeased as part of the Jefferson Refinancing. See Note 9 for additional details. (2) Fair value is based upon market prices for similar municipal securities.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents information related to our outstanding derivative contracts: Notional Amount Fair Value of Assets (1) Fair Value of Liabilities (1) Term March 31, 2020 Crude oil forwards (BBL) — — — N/A December 31, 2019 Crude oil forwards (BBL) 150 181 — 1 to 2 months ________________________________________________________ (1) Included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a summary of the changes in fair value for all Level 3 derivatives: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Crude Oil Forwards Electricity Swaps (1) Crude Oil Forwards Beginning Balance $ 181 $ — $ 6,545 Net unrealized losses recognized in earnings (181) (2,370) (850) Losses recognized in other comprehensive income — (43,012) — Purchases — — 4 Sales — — (967) Settlements — — 963 Ending Balance $ — $ (45,382) $ 5,695 ________________________________________________________ (1) These derivatives were deconsolidated in December 2019 due to the Long Ridge Transaction. See Note 7 for additional details.

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	We disaggregate our revenue from contracts with customers by products and services provided for each of our segments, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue. Revenues attributed to our Equipment Leasing business unit are within the scope of ASC 842, while revenues attributed to our Infrastructure business unit are within the scope of ASC 606, unless otherwise noted. Under the provisions of ASC 842, we have elected to exclude sales and other similar taxes from lease payments in arrangements where we are a lessor. Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 46,941 $ — $ — $ 2,872 $ 49,813 Maintenance revenue 31,995 — — — 31,995 Finance lease income 429 — — — 429 Other revenue 3,627 — — 585 4,212 Total equipment leasing revenues 82,992 — — 3,457 86,449 Infrastructure revenues Lease income — 120 — — 120 Terminal services revenues — 16,411 — — 16,411 Crude marketing revenues — 8,210 — — 8,210 Other revenue — — 314 1,336 1,650 Total infrastructure revenues — 24,741 314 1,336 26,391 Total revenues $ 82,992 $ 24,741 $ 314 $ 4,793 $ 112,840 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 47,303 $ — $ — $ 1,933 $ 49,236 Maintenance revenue 21,777 — — — 21,777 Finance lease income 826 — — — 826 Other revenue 505 — — 108 613 Total equipment leasing revenues 70,411 — — 2,041 72,452 Infrastructure revenues Lease income — 308 355 — 663 Terminal services revenues — 4,867 1,818 — 6,685 Crude marketing revenues — 30,779 — — 30,779 Other revenue — — 3,541 774 4,315 Total infrastructure revenues — 35,954 5,714 774 42,442 Total revenues $ 70,411 $ 35,954 $ 5,714 $ 2,815 $ 114,894
Finance Lease, Lease Income	Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2020: Operating Leases Finance Leases Remainder of 2020 $ 135,835 $ 1,182 2021 127,735 1,291 2022 82,288 897 2023 50,825 273 2024 35,392 — Thereafter 17,875 — Total $ 449,950 $ 3,643
Operating Lease, Lease Income	Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2020: Operating Leases Finance Leases Remainder of 2020 $ 135,835 $ 1,182 2021 127,735 1,291 2022 82,288 897 2023 50,825 273 2024 35,392 — Thereafter 17,875 — Total $ 449,950 $ 3,643

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease, Cost	The following table presents lease related costs: Three Months Ended March 31, 2020 2019 Operating lease expense $ 1,135 $ 1,604 Short-term lease expense 290 1,060 Variable lease expense 840 292 Lease expense from continuing operations 2,265 2,956 Finance lease expense — 79 Operating lease expense — 925 Lease expense from discontinued operations — 1,004 Total lease expense $ 2,265 $ 3,960
Supplemental Information Related to Leases	The following table presents information related to our operating leases as of and for the three months ended March 31, 2020: Right-of-use assets, net $ 62,965 Lease liabilities 62,524 Weighted average remaining lease term 40.6 years Weighted average incremental borrowing rate 6.2 % Cash paid for amounts included in the measurement of operating lease liabilities Continuing operations $ 1,139 Discontinued operations $ —
Lessee, Operating Lease, Liability, Maturity	The following table presents future minimum lease payments under non-cancellable operating leases as of March 31, 2020: Remainder of 2020 $ 3,524 2021 4,734 2022 4,606 2023 4,549 2024 4,318 Thereafter 149,992 Total undiscounted lease payments 171,723 Less: Imputed interest 109,199 Total lease liabilities $ 62,524

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Arrangements	The Consolidated Statements of Operations includes the following expense related to our stock-based compensation arrangements: Three Months Ended March 31, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term (in years) 2020 2019 Restricted Shares 215 90 873 0.7 Common Units 76 92 576 1.2 Total - continuing operations $ 291 $ 182 $ 1,449 Total - discontinued operations $ — $ 46

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The current and deferred components of the income tax (benefit) provision included in the Consolidated Statements of Operations are as follows: Three Months Ended March 31, 2020 2019 Current: Federal $ 37 $ 19 State and local 168 65 Foreign 70 52 Total current provision 275 136 Deferred: Federal (281) 103 State and local — 29 Foreign (92) (1) Total deferred provision (373) 131 (Benefit from) provision for income taxes: Continuing operations (98) 267 Discontinued operations — 186 Total $ (98) $ 453

MANAGEMENT AGREEMENT AND AFFI_2

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation: Three Months Ended March 31, 2020 2019 Management fees $ 4,766 $ 3,676 Income incentive allocation — — Capital gains incentive allocation — 162 Total $ 4,766 $ 3,838 The following table summarizes our reimbursements to the Manager: Three Months Ended March 31, 2020 2019 (1) Classification in the Consolidated Statements of Operations: General and administrative $ 2,262 $ 2,543 Acquisition and transaction expenses 524 1,461 Total $ 2,786 $ 4,004 ________________________________________________________ (1) Due to the Aviation Restructuring (as defined in Note 17), $1,513 was restated from the Corporate and Other segment to the Aviation Leasing segment, of which $548 was reclassified from General and administrative to Operating expenses and $965 remained in Acquisition and transaction expenses. See Note 17 for additional details. The following table summarizes amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets: March 31, 2020 December 31, 2019 Accrued management fees $ 1,655 $ 1,410 Other payables (1) 881 21,992 ________________________________________________________ (1) Includes $21.2 million related to incentive fees, as of December 31, 2019, which we paid during the three months ended March 31, 2020. The following table presents the amount of this non-controlling interest share of net loss: Three Months Ended March 31, 2020 2019 Non-controlling interest share of net loss $ 4,661 $ 3,296

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Restructuring and Related Costs	The following table presents our adjustments for the three months ended March 31, 2019. As Previously Reported Adjustments As Reported Aviation Leasing Corporate and Other Aviation Leasing Corporate and Other Aviation Leasing Corporate and Other Operating expenses $ 6,078 $ 3,541 $ 548 $ — $ 6,626 $ 3,541 General and administrative — 4,732 — (548) — 4,184 Acquisition and transaction expenses 13 1,461 965 (965) 978 496
Schedule of Segment Reporting Information, by Segment	The following tables set forth certain information for each reportable segment: I. For the Three Months Ended March 31, 2020 Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 82,992 $ — $ — $ 3,457 $ 86,449 Infrastructure revenues — 24,741 314 1,336 26,391 Total revenues 82,992 24,741 314 4,793 112,840 Expenses Operating expenses 4,071 21,943 2,000 5,430 33,444 General and administrative — — — 4,663 4,663 Acquisition and transaction expenses 2,724 — 782 (312) 3,194 Management fees and incentive allocation to affiliate — — — 4,766 4,766 Depreciation and amortization 32,631 7,226 376 1,964 42,197 Interest expense — 3,428 393 19,040 22,861 Total expenses 39,426 32,597 3,551 35,551 111,125 Other income (expense) Equity in (losses) earnings of unconsolidated entities (591) — 906 (50) 265 Loss on sale of assets, net (1,819) — — — (1,819) Loss on extinguishment of debt — (4,724) — — (4,724) Interest income 12 22 — 7 41 Other income — 33 — — 33 Total other (expense) income (2,398) (4,669) 906 (43) (6,204) Income (loss) from continuing operations before income taxes 41,168 (12,525) (2,331) (30,801) (4,489) Provision for (benefit from) income taxes 45 135 (281) 3 (98) Net income (loss) from continuing operations 41,123 (12,660) (2,050) (30,804) (4,391) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — (4,661) (75) — (4,736) Dividends on preferred shares — — — 4,539 4,539 Net income (loss) from continuing operations attributable to shareholders $ 41,123 $ (7,999) $ (1,975) $ (35,343) $ (4,194) II. For the Three Months Ended March 31, 2019 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 70,411 $ — $ — $ 2,041 $ 72,452 Infrastructure revenues — 35,954 5,714 774 42,442 Total revenues 70,411 35,954 5,714 2,815 114,894 Expenses Operating expenses 6,626 39,241 4,902 3,541 54,310 General and administrative — — — 4,184 4,184 Acquisition and transaction expenses 978 — — 496 1,474 Management fees and incentive allocation to affiliate — — — 3,838 3,838 Depreciation and amortization 30,005 5,156 1,993 1,709 38,863 Interest expense — 3,924 296 16,514 20,734 Total expenses 37,609 48,321 7,191 30,282 123,403 Other income (expense) Equity in (losses) earnings of unconsolidated entities (201) (220) — 37 (384) Gain on sale of assets, net 1,718 — — — 1,718 Interest income 26 38 21 6 91 Other expense — (233) (2,370) — (2,603) Total other income (expense) 1,543 (415) (2,349) 43 (1,178) Income (loss) from continuing operations before income taxes 34,345 (12,782) (3,826) (27,424) (9,687) Provision for income taxes 180 86 — 1 267 Net income (loss) from continuing operations 34,165 (12,868) (3,826) (27,425) (9,954) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — (3,296) (64) — (3,360) Net income (loss) from continuing operations attributable to shareholders $ 34,165 $ (9,572) $ (3,762) $ (27,425) $ (6,594)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table sets forth a reconciliation of Adjusted EBITDA to net income attributable to shareholders from continuing operations: Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 83,390 $ 4,569 $ (1,316) $ (14,648) $ 71,995 Add: Non-controlling share of Adjusted EBITDA 3,350 Add: Equity in earnings of unconsolidated entities 265 Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 413 Less: Interest expense (22,861) Less: Depreciation and amortization expense (49,064) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (181) Less: Losses on the modification or extinguishment of debt and capital lease obligations (4,724) Less: Acquisition and transaction expenses (3,194) Less: Equity-based compensation expense (291) Less: Benefit from income taxes 98 Net loss attributable to shareholders from continuing operations $ (4,194) The following table sets forth a reconciliation of Adjusted EBITDA to net income attributable to shareholders from continuing operations: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 73,662 $ (1,290) $ 926 $ (8,543) $ 64,755 Add: Non-controlling share of Adjusted EBITDA 2,153 Add: Equity in losses of unconsolidated entities (384) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 118 Less: Interest expense (20,734) Less: Depreciation and amortization expense (47,197) Less: Incentive allocations (162) Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (3,220) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,474) Less: Equity-based compensation expense (182) Less: Provision for income taxes (267) Net loss attributable to shareholders from continuing operations $ (6,594)
Revenue from External Customers by Geographic Areas	Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Africa $ 7,154 $ — $ — $ — $ 7,154 Asia 26,545 — — 3,457 30,002 Europe 39,572 — — — 39,572 North America 8,138 24,741 314 1,336 34,529 South America 1,583 — — — 1,583 Total $ 82,992 $ 24,741 $ 314 $ 4,793 $ 112,840 Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Revenues Africa $ 3,477 $ — $ — $ — $ 3,477 Asia 22,114 — — 2,041 24,155 Europe 31,885 — — — 31,885 North America 10,826 35,954 5,714 774 53,268 South America 2,109 — — — 2,109 Total $ 70,411 $ 35,954 $ 5,714 $ 2,815 $ 114,894
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated	. Balance Sheet and Location of Long-Lived Assets The following tables sets forth summarized balance sheet information and the geographic location of property, plant and equipment and leasing equipment, net as of March 31, 2020 and December 31, 2019: March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Total assets $ 1,665,800 $ 882,698 $ 414,004 $ 214,086 $ 3,176,588 Debt, net — 252,379 25,000 1,168,356 1,445,735 Total liabilities 274,933 347,281 69,944 1,172,606 1,864,764 Non-controlling interests in equity of consolidated subsidiaries — 31,225 786 524 32,535 Total equity 1,390,867 535,417 344,060 (958,520) 1,311,824 Total liabilities and equity $ 1,665,800 $ 882,698 $ 414,004 $ 214,086 $ 3,176,588 December 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Total assets $ 1,694,837 $ 781,422 $ 366,402 $ 394,261 $ 3,236,922 Debt, net — 233,077 25,000 1,162,851 1,420,928 Total liabilities 285,099 324,509 63,930 1,224,527 1,898,065 Non-controlling interests in equity of consolidated subsidiaries — 35,671 785 524 36,980 Total equity 1,409,738 456,913 302,472 (830,266) 1,338,857 Total liabilities and equity $ 1,694,837 $ 781,422 $ 366,402 $ 394,261 $ 3,236,922
Long-lived Assets by Geographic Areas	March 31, 2020 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 42,382 $ — $ — $ — $ 42,382 Asia 469,728 — — 40,795 510,523 Europe 690,470 — — — 690,470 North America 273,292 576,450 236,847 121,970 1,208,559 South America 18,012 — — — 18,012 Total $ 1,493,884 $ 576,450 $ 236,847 $ 162,765 $ 2,469,946 December 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 43,348 $ — $ — $ — $ 43,348 Asia 487,913 — — 37,548 525,461 Europe 647,029 — — — 647,029 North America 311,185 560,059 200,319 123,067 1,194,630 South America 28,700 — — — 28,700 Total $ 1,518,175 $ 560,059 $ 200,319 $ 160,615 $ 2,439,168

EARNINGS PER SHARE AND EQUITY (

EARNINGS PER SHARE AND EQUITY (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted EPS is presented below: Three Months Ended March 31, (in thousands, except share and per share data) 2020 2019 Net loss from continuing operations $ (4,391) $ (9,954) Net income from discontinued operations, net of income taxes 1,331 158 Net loss (3,060) (9,796) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries: Continuing operations (4,736) (3,360) Discontinued operations — (56) Dividends on preferred shares 4,539 — Net loss attributable to shareholders $ (2,863) $ (6,380) Weighted Average Common Shares Outstanding - Basic (1) 86,008,099 85,986,453 Weighted Average Common Shares Outstanding - Diluted (1) 86,008,099 85,986,453 Basic Continuing operations $ (0.05) $ (0.07) Discontinued operations $ 0.02 $ — Diluted Continuing operations $ (0.05) $ (0.07) Discontinued operations $ 0.02 $ — ________________________________________________________ (1) The three months ended March 31, 2020 and 2019 includes participating securities which can be converted into a fixed amount of our shares.

ORGANIZATION (Details)

ORGANIZATION (Details)	3 Months Ended
	Mar. 31, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3
Number of primary businesses	2

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2019USD ($)customer	Jul. 01, 2016
Accounting Policies [Line Items]
Inventory	$ 15,000		$ 24,500
Debt issuance cost	26,390		$ 18,111
Amortization of deferred financing costs	2,065	$ 2,025
Concentration risk, number of customers | customer			1
Provision for doubtful accounts	1,700		$ 1,300
Bad debt expense	$ 632	$ 2,950
Common stock dividends declared (in dollars per share) | $ / shares	$ 0.33	$ 0.33
Preferred stock dividends declared (in dollars per share) | $ / shares	$ 0.52	$ 0.50
Other Assets
Accounting Policies [Line Items]
Inventory	$ 100		5,600
Debt fees	2,100		1,700
Capitalized costs, potential asset acquisitions	48,200		45,300
Prepaid expense	3,600		4,100
Derivative assets	$ 3,800		$ 2,400
Customer Group Two | Customer Concentration Risk | Sales Revenue, Segment | Jefferson Terminal
Accounting Policies [Line Items]
Concentration risk	16.00%	22.00%
Customer Group Two | Customer Concentration Risk | Sales Revenue, Segment | Aviation Leasing
Accounting Policies [Line Items]
Concentration risk	11.00%
Major Accounts Receivable Customer, Customer One | Customer Concentration Risk | Accounts Receivable
Accounting Policies [Line Items]
Concentration risk			16.00%
Delaware River Partners LLC | Variable Interest Entity, Primary Beneficiary
Accounting Policies [Line Items]
Ownership percentage				98.00%
Interest held in VIE, as a percentage	100.00%

DISCONTINUED OPERATIONS - Compo

DISCONTINUED OPERATIONS - Components of Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Expenses
Provision for income taxes	$ 0	$ 186
Net income	1,331	158
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	0	(56)
Discontinued Operations, Disposed of by Sale | CMQR
Revenues
Total revenues	0	9,733
Expenses
Operating expense	0	8,156
Depreciation and amortization	0	670
Interest expense	0	569
Total expenses	0	9,395
Gain on sale of assets, net	1,331	7
Other expense	0	1
Other income	1,331	6
Income before income taxes	1,331	344
Provision for income taxes	0	186
Net income	1,331	158
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	0	(56)
Net income attributable to shareholders	$ 1,331	$ 214

DISCONTINUED OPERATIONS - Com_2

DISCONTINUED OPERATIONS - Components of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Bad debt expense	$ 0	$ 28
Discontinued Operations, Disposed of by Sale | CMQR
Operating activities:
Depreciation and amortization	0	670
Share-based compensation expense	0	46
Investing activities:
Purchases of property, plant and equipment	$ 0	$ 377

LEASING EQUIPMENT, NET (Details

LEASING EQUIPMENT, NET (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)aircraftcommercial_jet_engine	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Lessor, Lease, Description [Line Items]
Leasing equipment	$ 865,870		$ 802,044
Less: accumulated depreciation	(76,570)		(69,935)
Property, plant and equipment, net	$ 789,300		732,109
Acquisitions:
Aircraft | aircraft	2
Engines | commercial_jet_engine	4
Dispositions:
Aircraft | aircraft	0
Engines | commercial_jet_engine	1
Depreciation expense for leasing equipment	$ 6,585	$ 6,737
Assets Leased to Others
Lessor, Lease, Description [Line Items]
Leasing equipment	2,024,191		2,019,773
Less: accumulated depreciation	(343,545)		(312,714)
Property, plant and equipment, net	1,680,646		$ 1,707,059
Dispositions:
Depreciation expense for leasing equipment	$ 34,724	$ 31,896

FINANCE LEASES, NET - Summary (

FINANCE LEASES, NET - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance leases	$ 11,638	$ 12,388
Unearned revenue	(3,643)	(4,073)
Finance leases, net	$ 7,995	$ 8,315

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 865,870	$ 802,044
Less: accumulated depreciation	(76,570)	(69,935)
Property, plant and equipment, net	789,300	732,109
Land, site improvements and rights
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	51,841	51,901
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	256,375	211,110
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,033	3,783
Terminal machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	538,366	519,603
Track and track related assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,348	2,208
Railroad equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,402	4,823
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,524	4,325
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,372	2,322
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 609	$ 1,969

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Property, Plant and Equipment [Abstract]
Property, plant and equipment acquired	$ 63.8

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Depreciation expense for property, plant and equipment:
Continuing operations	$ 6,585	$ 6,078
Discontinued operations	0	659
Total	$ 6,585	$ 6,737

INVESTMENTS - Ownership Carryin

INVESTMENTS - Ownership Carrying Values (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 194,352	$ 180,550
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	25.00%		25.00%
Carrying Value	$ 24,061	24,652	$ 15,000
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	51.00%
Carrying Value	$ 405	501
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50.00%
Carrying Value	$ 169,886	$ 155,397

INVESTMENTS - Earnings (Loss) (

INVESTMENTS - Earnings (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	$ 265	$ (384)
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	(591)	(201)
JGP Energy Partners LLC
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	0	(220)
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	(50)	37
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	$ 906	$ 0

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) shipping_container in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Dec. 31, 2019USD ($)	Aug. 31, 2019USD ($)	Mar. 31, 2020USD ($)shipping_container	Dec. 31, 2016USD ($)	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 180,550		$ 194,352
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage Sold			49.90%
Proceeds from Sale of Equity Method Investments	150,000
Carrying value	155,397		$ 169,886
Ownership percentage			50.00%
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 24,652		$ 24,061	$ 15,000
Ownership percentage			25.00%	25.00%
Equity method investment contribution amount		$ 13,500
JGP Energy Partners LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage				50.00%
Remaining ownership amount purchased	50.00%
Payments to acquire equity method investments	$ 30,000
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 501		$ 405
Ownership percentage			51.00%
Shipping Containers Subject to Multiple Operating Leases | Containers | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Shipping containers subject to multiple operating leases | shipping_container			3
FIG | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage					51.00%
Equity Investor | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage					49.00%

INVESTMENTS (Equity Method Inve

INVESTMENTS (Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 4,738
Total expenses	6,375
Other income	3,445
Net income (loss)	1,808
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Total revenue	0	$ 0
Total expenses	2,364	804
Net income (loss)	$ (2,364)	$ (804)

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES, NET - Summarized Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Intangible assets:
Total intangible assets, net	$ 25,115	$ 27,692
Intangible liabilities:
Acquired unfavorable lease intangibles	5,061	5,170
Less: Accumulated amortization	(2,301)	(3,014)
Acquired unfavorable lease intangibles, net	2,760	2,156
Acquired favorable lease intangibles
Intangible assets:
Acquired favorable lease intangibles	34,094	49,762
Less: Accumulated amortization	(24,672)	(38,652)
Acquired customer relationships, net	9,422	11,110
Customer relationships
Intangible assets:
Acquired favorable lease intangibles	35,513	35,513
Less: Accumulated amortization	(19,820)	(18,931)
Acquired customer relationships, net	15,693	16,582
Operating Segments | Aviation Leasing
Intangible assets:
Total intangible assets, net	9,422	11,110
Intangible liabilities:
Acquired unfavorable lease intangibles	5,061	5,170
Less: Accumulated amortization	(2,301)	(3,014)
Acquired unfavorable lease intangibles, net	2,760	2,156
Operating Segments | Aviation Leasing | Acquired favorable lease intangibles
Intangible assets:
Acquired favorable lease intangibles	34,094	49,762
Less: Accumulated amortization	(24,672)	(38,652)
Acquired customer relationships, net	9,422	11,110
Operating Segments | Aviation Leasing | Customer relationships
Intangible assets:
Acquired favorable lease intangibles	0	0
Less: Accumulated amortization	0	0
Acquired customer relationships, net	0	0
Operating Segments | Jefferson Terminal
Intangible assets:
Total intangible assets, net	15,693	16,582
Intangible liabilities:
Acquired unfavorable lease intangibles	0	0
Less: Accumulated amortization	0	0
Acquired unfavorable lease intangibles, net	0	0
Operating Segments | Jefferson Terminal | Acquired favorable lease intangibles
Intangible assets:
Acquired favorable lease intangibles	0	0
Less: Accumulated amortization	0	0
Acquired customer relationships, net	0	0
Operating Segments | Jefferson Terminal | Customer relationships
Intangible assets:
Acquired favorable lease intangibles	35,513	35,513
Less: Accumulated amortization	(19,820)	(18,931)
Acquired customer relationships, net	$ 15,693	$ 16,582

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES, NET - Intangible Liabilities Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Total	$ 2,020	$ 3,362
Equipment leasing revenues | Lease intangibles
Finite-Lived Intangible Assets [Line Items]
Lease intangibles	1,132	2,462
Depreciation and amortization | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Continuing operations	888	889
Depreciation and amortization | Customer relationships | Discontinued operations
Finite-Lived Intangible Assets [Line Items]
Continuing operations	$ 0	$ 11

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES, NET - Schedule of Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2020USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2020	$ 5,265
2021	6,147
2022	4,820
2023	3,746
2024	2,377
Thereafter	0
Total	$ 22,355

DEBT, NET - Schedule of Debt (D

DEBT, NET - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 1,472,125	$ 1,439,039
Less: Debt issuance costs	(26,390)	(18,111)
Total debt, net	1,445,735	1,420,928
Total debt due within one year	0	182,019
Loans payable
Debt Instrument [Line Items]
Debt	65,000	111,009
Loans payable | FTAI Pride Credit Agreement
Debt Instrument [Line Items]
Total debt, net	0	36,009
Loans payable | Jefferson Revolver
Debt Instrument [Line Items]
Total debt, net	0	50,000
Loans payable | DRP Revolver
Debt Instrument [Line Items]
Total debt, net	$ 25,000	25,000
Basis spread	1.50%
Quarterly commitment fee rate	0.875%
Bonds payable
Debt Instrument [Line Items]
Debt	$ 1,407,125	1,328,030
Bonds payable | Series 2012 Bonds
Debt Instrument [Line Items]
Total debt, net	0	41,059
Unamortized premium		1,509
Bonds payable | Series 2016 Bonds
Debt Instrument [Line Items]
Total debt, net	0	144,200
Bonds payable | Series 2020 Bonds
Debt Instrument [Line Items]
Debt	263,980	0
Bonds payable | Senior Notes Due 2022
Debt Instrument [Line Items]
Total debt, net	$ 698,008	697,814
Stated percentage	6.75%
Unamortized discount	$ 4,893	5,429
Unamortized premium	2,901	3,243
Bonds payable | Senior Notes Due 2025
Debt Instrument [Line Items]
Total debt, net	$ 445,137	444,957
Stated percentage	6.50%
Unamortized discount	$ 4,863	5,043
Revolving Credit Facility | Loans payable
Debt Instrument [Line Items]
Total debt, net	$ 40,000	$ 0
Basis spread	2.00%
Quarterly commitment fee rate	0.50%
Adjusted Eurodollar Rate | Revolving Credit Facility | Loans payable
Debt Instrument [Line Items]
Basis spread	3.00%
Eurodollar | Loans payable | DRP Revolver
Debt Instrument [Line Items]
Basis spread	2.50%

DEBT, NET - Narrative (Details)

DEBT, NET - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Feb. 11, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 4,724,000	$ 0
Jefferson Terminal
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 4,700,000
Series 2020 Bonds
Debt Instrument [Line Items]
Debt instrument face amount			$ 264,000,000
Series 2020A Dock and Wharf Facility Revenue Bonds
Debt Instrument [Line Items]
Debt instrument face amount			184,900,000
Series 2020B Taxable Facility Revenue Bonds
Debt Instrument [Line Items]
Debt instrument face amount			$ 79,100,000
Stated percentage			6.00%
Series 2020A Maturing in 2035
Debt Instrument [Line Items]
Debt instrument face amount			$ 53,500,000
Stated percentage			3.625%
Series 2020A Maturing in 2050
Debt Instrument [Line Items]
Debt instrument face amount			$ 131,400,000
Stated percentage			4.00%

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Total assets	$ 123,388	$ 242,698
Level 1
Assets
Total assets	123,388	242,517
Level 2
Assets
Total assets	0	0
Level 3
Assets
Total assets	0	181
Market
Assets
Cash and cash equivalents	45,120	226,512
Restricted cash	78,268	16,005
Market | Level 1
Assets
Cash and cash equivalents	45,120	226,512
Restricted cash	78,268	16,005
Market | Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Market | Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	$ 0	0
Income
Assets
Derivative assets		181
Income | Level 1
Assets
Derivative assets		0
Income | Level 2
Assets
Derivative assets		0
Income | Level 3
Assets
Derivative assets		$ 181

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value by Balance Sheet Grouping) (Details) - Estimate of Fair Value Measurement - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Series 2012 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 0	$ 41,450
Series 2016 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	0	145,143
Series A 2020 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	140,653	0
Series B 2020 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	79,814	0
Senior Notes due 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	654,626	731,451
Senior Notes due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 330,183	$ 475,884

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) - Crude oil forwards (BBL) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150	$ 0
Fair Value of Assets	181	0
Fair Value of Liabilities	$ 0	$ 0
Minimum
Derivatives, Fair Value [Line Items]
Term of contract	1 month
Maximum
Derivatives, Fair Value [Line Items]
Term of contract	2 months

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Crude Oil Forwards
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 181	$ 6,545
Net unrealized losses recognized in earnings	(181)	(850)
Purchases	0	4
Sales	0	(967)
Settlements	0	963
Ending Balance	0	5,695
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	$ 0	0
Electric Swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		0
Net unrealized losses recognized in earnings		(2,370)
Purchases		0
Sales		0
Settlements		0
Ending Balance		(45,382)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)		$ (43,012)

REVENUES - Components of Revenu

REVENUES - Components of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 112,840	$ 114,894
Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	4,793	2,815
Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	86,449	72,452
Total equipment leasing revenues | Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	3,457	2,041
Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	26,391	42,442
Total infrastructure revenues | Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	1,336	774
Equipment Leasing | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	49,813	49,236
Equipment Leasing | Maintenance revenue
Disaggregation of Revenue [Line Items]
Total revenues	31,995	21,777
Equipment Leasing | Finance lease income
Disaggregation of Revenue [Line Items]
Total revenues	429	826
Equipment Leasing | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	4,212	613
Equipment Leasing | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	86,449	72,452
Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	120	663
Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	16,411	6,685
Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	8,210	30,779
Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	1,650	4,315
Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	26,391	42,442
Aviation Leasing | Equipment Leasing
Disaggregation of Revenue [Line Items]
Total revenues	82,992	70,411
Aviation Leasing | Equipment Leasing | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	46,941	47,303
Aviation Leasing | Equipment Leasing | Maintenance revenue
Disaggregation of Revenue [Line Items]
Total revenues	31,995	21,777
Aviation Leasing | Equipment Leasing | Finance lease income
Disaggregation of Revenue [Line Items]
Total revenues	429	826
Aviation Leasing | Equipment Leasing | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	3,627	505
Aviation Leasing | Equipment Leasing | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	82,992	70,411
Jefferson Terminal | Infrastructure
Disaggregation of Revenue [Line Items]
Total revenues	24,741	35,954
Jefferson Terminal | Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	120	308
Jefferson Terminal | Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	16,411	4,867
Jefferson Terminal | Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	8,210	30,779
Jefferson Terminal | Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	24,741	35,954
Ports and Terminals | Infrastructure
Disaggregation of Revenue [Line Items]
Total revenues	314	5,714
Ports and Terminals | Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues		355
Ports and Terminals | Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues		1,818
Ports and Terminals | Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	314	3,541
Ports and Terminals | Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	314	5,714
Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	4,793	2,815
Corporate and Other | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	2,872	1,933
Corporate and Other | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	585	108
Corporate and Other | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,457	$ 2,041

REVENUES - Minimum Future Annua

REVENUES - Minimum Future Annual Revenues (Details) $ in Thousands	Mar. 31, 2020USD ($)
Operating Leases
Remainder of 2020	$ 135,835
2021	127,735
2022	82,288
2023	50,825
2024	35,392
Thereafter	17,875
Total	449,950
Finance Leases
Remainder of 2020	1,182
2021	1,291
2022	897
2023	273
2024	0
Thereafter	0
Total	$ 3,643

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets, net	$ 62,965	$ 37,466
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	42 years
Real Estate and Office Equipment
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets, net	$ 59,800
Real Estate and Office Equipment | Maximum
Lessee, Lease, Description [Line Items]
Term of contract	43 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease expense	$ 1,135	$ 1,604
Short-term lease expense	290	1,060
Variable lease expense	840	292
Lease expense from continuing operations	2,265	2,956
Finance lease expense	0	79
Operating lease expense	0	925
Lease expense from discontinued operations	0	1,004
Total lease expense	$ 2,265	$ 3,960

LEASES - Supplemental Informati

LEASES - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use assets, net	$ 62,965	$ 37,466
Lease liabilities	$ 62,524	$ 36,968
Weighted average remaining lease term	40 years 7 months 6 days
Weighted average incremental borrowing rate	6.20%
Cash paid for amounts included in the measurement of operating lease liabilities
Continuing operations	$ 1,139
Discontinued operations	$ 0

LEASES - Future Payments (Detai

LEASES - Future Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating leases
Remainder of 2020	$ 3,524
2021	4,734
2022	4,606
2023	4,549
2024	4,318
Thereafter	149,992
Total undiscounted lease payments	171,723
Less: Imputed interest	109,199
Total lease liabilities	$ 62,524	$ 36,968

EQUITY-BASED COMPENSATION (Narr

EQUITY-BASED COMPENSATION (Narrative) (Details)	3 Months Ended
	Mar. 31, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares transferred (in shares)	252,472
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	29,900,000

EQUITY-BASED COMPENSATION - Exp

EQUITY-BASED COMPENSATION - Expenses Related to Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 291	$ 182
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	1,449
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	215	90
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	$ 873
Weighted Average Remaining Contractual Term (in years)	8 months 12 days
Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 76	92
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	$ 576
Weighted Average Remaining Contractual Term (in years)	1 year 2 months 12 days
Total - discontinued operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 0	$ 46

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Current:
Federal	$ 37	$ 19
State and local	168	65
Foreign	70	52
Total current provision	275	136
Deferred:
Federal	(281)	103
State and local	0	29
Foreign	(92)	(1)
Total deferred provision	(373)	131
Continuing operations	(98)	267
Discontinued operations	0	186
Total	$ (98)	$ 453

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal tax at statutory rate	21.00%

MANAGEMENT AGREEMENT AND AFFI_3

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Details) - USD ($) shares in Millions	Jun. 21, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 20, 2018
Related Party Transaction [Line Items]
Ownership percentage by manager		0.05%
Management fees and incentive allocation to affiliate		$ 4,766,000	$ 3,838,000
Shares issued, conversion of shares (in shares)	1.9
Jefferson Terminal
Related Party Transaction [Line Items]
Non-controlling interest ownership percentage	20.00%	20.00%		20.00%
Non-controlling interest by private equity fund		$ 29,000,000		$ 33,700,000
Non-controlling interest share of net loss		$ 4,661,000	3,296,000
Manager | Management fees
Related Party Transaction [Line Items]
Management fee percentage rate		1.50%
Due from related party		$ 0		0
Manager | Bond Purchase Agreement Guarantee Fees
Related Party Transaction [Line Items]
Amounts of transaction		1,700,000
Management fee payable					$ 300,000
General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		4,766,000	3,838,000
Management fees and incentive allocation to affiliate		2,786,000	4,004,000
General Partner | Aviation Leasing
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			1,513,000
General Partner | Aviation Leasing | Operating expense
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			548,000
General Partner | Aviation Leasing | Acquisition and transaction expenses
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			965,000
General Partner | Management fees
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		4,766,000	3,676,000
General Partner | Income incentive allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		0	0
General Partner | Capital gains incentive allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		0	162,000
General Partner | General and administrative
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		2,262,000	2,543,000
General Partner | Acquisition and transaction expenses
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		524,000	$ 1,461,000
Accounts Payable and Accrued Liabilities | Manager
Related Party Transaction [Line Items]
Accrued management fees		1,655,000		1,410,000
Other payables (1)		881,000		$ 21,992,000
Accounts Payable and Accrued Liabilities | Manager | Incentive Fees
Related Party Transaction [Line Items]
Other payables (1)		$ 21,200,000
Threshold 1 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation		0.00%
Quarterly percent threshold of pre-incentive allocation net income		2.00%
Annual percent threshold of pre-incentive allocation net income		8.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation		100.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation | Minimum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income		2.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation | Maximum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income		2.2223%
Threshold 3 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation		10.00%

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2020asegment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Repauno
Segment Reporting Information [Line Items]
Area of real estate	1,630
Hannibal
Segment Reporting Information [Line Items]
Area of real estate	1,660

SEGMENT INFORMATION - Statement

SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 71,995	$ 64,755
Revenues
Total revenues	112,840	114,894
Expenses
Operating expenses	33,444	54,310
General and administrative	4,663	4,184
Acquisition and transaction expenses	3,194	1,474
Management fees and incentive allocation to affiliate	4,766	3,838
Depreciation and amortization	42,197	38,863
Interest expense	22,861	20,734
Total expenses	111,125	123,403
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	265	(384)
(Loss) gain on sale of assets, net	(1,819)	1,718
Loss on extinguishment of debt	(4,724)	0
Interest income	41	91
Other income (expense)	33	(2,603)
Total other expense	(6,204)	(1,178)
Loss from continuing operations before income taxes	(4,489)	(9,687)
Provision for (benefit from) income taxes	(98)	267
Net loss from continuing operations	(4,391)	(9,954)
Dividends on preferred shares	4,539	0
Net loss attributable to shareholders from continuing operations	(4,194)	(6,594)
Equipment Leasing
Revenues
Total revenues	86,449	72,452
Infrastructure
Revenues
Total revenues	26,391	42,442
Operating Segments
Other income (expense)
Loss from continuing operations before income taxes
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	(4,736)	(3,360)
Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	(14,648)	(8,543)
Revenues
Total revenues	4,793	2,815
Expenses
Operating expenses	5,430	3,541
General and administrative	4,663	4,184
Acquisition and transaction expenses	(312)	496
Management fees and incentive allocation to affiliate	4,766	3,838
Depreciation and amortization	1,964	1,709
Interest expense	19,040	16,514
Total expenses	35,551	30,282
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	(50)	37
(Loss) gain on sale of assets, net	0	0
Loss on extinguishment of debt	0
Interest income	7	6
Other income (expense)	0	0
Total other expense	(43)	43
Loss from continuing operations before income taxes	(30,801)	(27,424)
Provision for (benefit from) income taxes	3	1
Net loss from continuing operations	(30,804)	(27,425)
Dividends on preferred shares	4,539
Net loss attributable to shareholders from continuing operations	(35,343)	(27,425)
Corporate and Other | Equipment Leasing
Revenues
Total revenues	3,457	2,041
Corporate and Other | Infrastructure
Revenues
Total revenues	1,336	774
Aviation Leasing | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Adjusted EBITDA	83,390	73,662
Revenues
Total revenues	82,992	70,411
Expenses
Operating expenses	4,071	6,626
General and administrative	0	0
Acquisition and transaction expenses	2,724	978
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	32,631	30,005
Interest expense	0	0
Total expenses	39,426	37,609
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	(591)	(201)
(Loss) gain on sale of assets, net	(1,819)	1,718
Loss on extinguishment of debt	0
Interest income	12	26
Other income (expense)	0	0
Total other expense	(2,398)	1,543
Loss from continuing operations before income taxes	41,168	34,345
Provision for (benefit from) income taxes	45	180
Net loss from continuing operations	41,123	34,165
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	0	0
Dividends on preferred shares	0
Net loss attributable to shareholders from continuing operations	41,123	34,165
Jefferson Terminal
Other income (expense)
Loss on extinguishment of debt	(4,700)
Jefferson Terminal | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Adjusted EBITDA	4,569	(1,290)
Revenues
Total revenues	24,741	35,954
Expenses
Operating expenses	21,943	39,241
General and administrative	0	0
Acquisition and transaction expenses	0	0
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	7,226	5,156
Interest expense	3,428	3,924
Total expenses	32,597	48,321
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	0	(220)
(Loss) gain on sale of assets, net	0	0
Loss on extinguishment of debt	(4,724)
Interest income	22	38
Other income (expense)	33	(233)
Total other expense	(4,669)	(415)
Loss from continuing operations before income taxes	(12,525)	(12,782)
Provision for (benefit from) income taxes	135	86
Net loss from continuing operations	(12,660)	(12,868)
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	(4,661)	(3,296)
Dividends on preferred shares	0
Net loss attributable to shareholders from continuing operations	(7,999)	(9,572)
Ports and Terminals | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Adjusted EBITDA	(1,316)	926
Revenues
Total revenues	314	5,714
Expenses
Operating expenses	2,000	4,902
General and administrative	0	0
Acquisition and transaction expenses	782	0
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	376	1,993
Interest expense	393	296
Total expenses	3,551	7,191
Other income (expense)
Equity in earnings (losses) of unconsolidated entities	906	0
(Loss) gain on sale of assets, net	0	0
Loss on extinguishment of debt	0
Interest income	0	21
Other income (expense)	0	(2,370)
Total other expense	906	(2,349)
Loss from continuing operations before income taxes	(2,331)	(3,826)
Provision for (benefit from) income taxes	(281)	0
Net loss from continuing operations	(2,050)	(3,826)
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	(75)	(64)
Dividends on preferred shares	0
Net loss attributable to shareholders from continuing operations	$ (1,975)	$ (3,762)

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted Net Income to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 71,995	$ 64,755
Add: Non-controlling share of adjustments to Adjusted Net Income	3,350	2,153
Equity in earnings (losses) of unconsolidated entities	265	(384)
Less: Pro-rata share of Adjusted Net Income from investments in unconsolidated entities	413	118
Less: Interest expense	(22,861)	(20,734)
Less: Depreciation and amortization expense	(49,064)	(47,197)
Less: Incentive allocations	0	(162)
Less: Asset impairment charges	0	0
Less: Changes in fair value of non-hedge derivative instruments	(181)	(3,220)
Less: Losses on the modification or extinguishment of debt and capital lease obligations	(4,724)	0
Less: Acquisition and transaction expenses	(3,194)	(1,474)
Less: Equity-based compensation expense	(291)	(182)
Less: Provision for income taxes	98	(267)
Net loss attributable to shareholders from continuing operations	(4,194)	(6,594)
Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	(14,648)	(8,543)
Equity in earnings (losses) of unconsolidated entities	(50)	37
Less: Interest expense	(19,040)	(16,514)
Less: Acquisition and transaction expenses	312	(496)
Less: Provision for income taxes	(3)	(1)
Net loss attributable to shareholders from continuing operations	(35,343)	(27,425)
Aviation Leasing | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Adjusted EBITDA	83,390	73,662
Equity in earnings (losses) of unconsolidated entities	(591)	(201)
Less: Interest expense	0	0
Less: Acquisition and transaction expenses	(2,724)	(978)
Less: Provision for income taxes	(45)	(180)
Net loss attributable to shareholders from continuing operations	41,123	34,165
Jefferson Terminal | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Adjusted EBITDA	4,569	(1,290)
Equity in earnings (losses) of unconsolidated entities	0	(220)
Less: Interest expense	(3,428)	(3,924)
Less: Acquisition and transaction expenses	0	0
Less: Provision for income taxes	(135)	(86)
Net loss attributable to shareholders from continuing operations	(7,999)	(9,572)
Ports and Terminals | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Adjusted EBITDA	(1,316)	926
Equity in earnings (losses) of unconsolidated entities	906	0
Less: Interest expense	(393)	(296)
Less: Acquisition and transaction expenses	(782)	0
Less: Provision for income taxes	281	0
Net loss attributable to shareholders from continuing operations	$ (1,975)	$ (3,762)

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Geographic Sources of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 112,840	$ 114,894
Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	86,449	72,452
Infrastructure
Segment Reporting Information [Line Items]
Total revenues	26,391	42,442
Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	4,793	2,815
Corporate and Other | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	3,457	2,041
Corporate and Other | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	1,336	774
Africa
Segment Reporting Information [Line Items]
Total revenues	7,154	3,477
Africa | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	0	0
Asia
Segment Reporting Information [Line Items]
Total revenues	30,002	24,155
Asia | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	3,457	2,041
Europe
Segment Reporting Information [Line Items]
Total revenues	39,572	31,885
Europe | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	0	0
North America
Segment Reporting Information [Line Items]
Total revenues	34,529	53,268
North America | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	1,336	774
South America
Segment Reporting Information [Line Items]
Total revenues	1,583	2,109
South America | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	0	0
Aviation Leasing | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	82,992	70,411
Aviation Leasing | Africa | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	7,154	3,477
Aviation Leasing | Asia | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	26,545	22,114
Aviation Leasing | Europe | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	39,572	31,885
Aviation Leasing | North America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	8,138	10,826
Aviation Leasing | South America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	1,583	2,109
Jefferson Terminal | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	24,741	35,954
Jefferson Terminal | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	24,741	35,954
Jefferson Terminal | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	314	5,714
Ports and Terminals | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	314	5,714
Ports and Terminals | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	$ 0	$ 0

SEGMENT INFORMATION - Balance S

SEGMENT INFORMATION - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 3,176,588	$ 3,236,922
Debt, net	1,445,735	1,420,928
Total liabilities	1,864,764	1,898,065
Equity
Non-controlling interest in equity of consolidated subsidiaries	32,535	36,980
Total equity	1,311,824	1,338,857
Total liabilities and equity	3,176,588	3,236,922
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	214,086	394,261
Debt, net	1,168,356	1,162,851
Total liabilities	1,172,606	1,224,527
Equity
Non-controlling interest in equity of consolidated subsidiaries	524	524
Total equity	(958,520)	(830,266)
Total liabilities and equity	214,086	394,261
Aviation Leasing | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total assets	1,665,800	1,694,837
Debt, net	0	0
Total liabilities	274,933	285,099
Equity
Non-controlling interest in equity of consolidated subsidiaries	0	0
Total equity	1,390,867	1,409,738
Total liabilities and equity	1,665,800	1,694,837
Jefferson Terminal | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total assets	882,698	781,422
Debt, net	252,379	233,077
Total liabilities	347,281	324,509
Equity
Non-controlling interest in equity of consolidated subsidiaries	31,225	35,671
Total equity	535,417	456,913
Total liabilities and equity	882,698	781,422
Ports and Terminals | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total assets	414,004	366,402
Debt, net	25,000	25,000
Total liabilities	69,944	63,930
Equity
Non-controlling interest in equity of consolidated subsidiaries	786	785
Total equity	344,060	302,472
Total liabilities and equity	$ 414,004	$ 366,402

SEGMENT INFORMATION - Location

SEGMENT INFORMATION - Location of Long-Lived Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	$ 1,680,646	$ 1,707,059
Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	2,469,946	2,439,168
Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	42,382	43,348
Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	510,523	525,461
Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	690,470	647,029
Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	1,208,559	1,194,630
Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	18,012	28,700
Corporate and Other | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	162,765	160,615
Corporate and Other | Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Corporate and Other | Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	40,795	37,548
Corporate and Other | Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Corporate and Other | Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	121,970	123,067
Corporate and Other | Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	1,493,884	1,518,175
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	42,382	43,348
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	469,728	487,913
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	690,470	647,029
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	273,292	311,185
Aviation Leasing | Operating Segments | Equipment Leasing | Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	18,012	28,700
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	576,450	560,059
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	576,450	560,059
Jefferson Terminal | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	236,847	200,319
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	236,847	200,319
Ports and Terminals | Operating Segments | Infrastructure | Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	$ 0	$ 0

SEGMENT INFORMATION - Restructu

SEGMENT INFORMATION - Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
General and administrative	$ 4,663	$ 4,184
Aviation Leasing | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		6,626
General and administrative		0
Acquisition and transaction expenses		978
Corporate and Other | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		3,541
General and administrative		4,184
Acquisition and transaction expenses		496
Previously Reported | Aviation Leasing | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		6,078
General and administrative		0
Acquisition and transaction expenses		13
Previously Reported | Corporate and Other | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		3,541
General and administrative		4,732
Acquisition and transaction expenses		1,461
Restatement Adjustment | Aviation Leasing | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		548
General and administrative		0
Acquisition and transaction expenses		965
Restatement Adjustment | Corporate and Other | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Operating expenses		0
General and administrative		(548)
Acquisition and transaction expenses		$ (965)

EARNINGS PER SHARE AND EQUITY -

EARNINGS PER SHARE AND EQUITY - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net loss from continuing operations	$ (4,391)	$ (9,954)
Net income from discontinued operations, net of income taxes	1,331	158
Net loss	(3,060)	(9,796)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:
Continuing operations	(4,736)	(3,360)
Discontinued operations	0	(56)
Dividends on preferred shares	4,539	0
Net loss attributable to shareholders	$ (2,863)	$ (6,380)
Weighted Average Common Shares Outstanding - Diluted (in shares)	86,008,099	85,986,453
Basic
Continuing operations (in dollars per share)	$ (0.05)	$ (0.07)
Discontinued operations (in dollars per share)	0.02	0
Diluted
Continuing operations (in dollars per share)	(0.05)	(0.07)
Discontinued operations (in dollars per share)	$ 0.02	$ 0

EARNINGS PER SHARE AND EQUITY_2

EARNINGS PER SHARE AND EQUITY - Narrative (Details) - shares	1 Months Ended	3 Months Ended
	Jan. 31, 2020	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)		156,550	138,659
Stocks issued during period for services (in shares)	11,991
Shares issued (in shares)		185,197
Class B Unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares converted (in shares)		250,066

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 0
Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	3,300,000
Repauno
Loss Contingencies [Line Items]
Potential milestone payment	$ 15,000,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Apr. 28, 2020	Mar. 31, 2020	Mar. 31, 2019
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)		$ 0.33	$ 0.33
Preferred stock dividends declared (in dollars per share)		$ 0.52	$ 0.50
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	$ 0.33
Series A Preferred Shares | Subsequent Event
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)	0.52
Series B Preferred Stock | Subsequent Event
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 0.50